Show I Constitutional i i- i 1 Amendment P I Liability of Stockholders Stockholder of Banks A JOINT RESOLUTION PROPOSING PROPOS PROPOS- INC ING TO AMEND SECTION 18 18 ARTICLE XII OF THE CONSTITUTION CONSTITUTION CONSTITUTION OF THE STATE OF 1 I UTAH RELATING TO LIABILITY LIABILITY LIABILITY ITY OF STOCKHOLDERS OF BANKS Be it enacted ly h the Legislature of the State Stale of Utah tr third of all the She members member elected to 10 each house haute con- con earring currin therein SECTION 1 1 That it is proposed to amend section 18 IS article XII of the constitution of the state of ot Utah to read Sec 18 The legislature may provide by law that the stockholders stockholders stockholders stock stock- holders In every corporation and joint join t stock association organized for tor banking purposes or the holders holders holders hold hold- ers of or any anyone one or more of ot the classes of stock issued by any such corporation In addition to the amount of capital stock subscribed and fully tully paid by them shall be Individually responsible for an addi- addi amount equal to not exceeding exceeding exceed exceed- Ing the amount of their stock In such corporation or the amount ot or their stock of any particular class In such corporation for all its debts And liabilities of every kind Section 2 2 The secretary of or state Is directed to submit this proposed amendment to the eJectors electors electors elec elec- tors of or the state at the next general election in the manner provided by law Section 3 If It adopted by the electors of the state this amendment amendment amendment amend amend- ment shall take effect the first day of January 1941 I E. E E E. Monson Secretary of State of the State of or Utah do hereby certify that the foregoing Is a full true and correct copy of the Constitutional Amendment proposed proposed proposed pro pro- posed by the regular session of the legislature of 1939 as the same appears of record In my office omee In witness whereof I ha have ve hereunto hero here unto set my hand and affixed the Great Seal of of the State of ot Utah this day of or August 1940 19 I. I J I Secretary of State V. V |