Show Constitutional 1 I I Amendment 1 1 Liability of or Stockholders Stockholder of Banks A JOINT RESOLUTION PROPOSING PROPOSING PROPOS PROPOS- ING TO AMEND SECTION 18 ARTICLE XII Xi OF THE CONSTITUTION CONSTITUTION TUT ON OF THE ST STATE ATE OF I UTAH RELATING TO LlA LIABILITY LIABILITY lL- lL ITY OF STOCKHOLDERS OF I BANKS i iBe Be B it enacted by y b the Legislature L of the I Slate Stat of 01 Utah it thirds o-thirds ol of all the members elected to each ach howe house concurring concurring concurring con con- therein SECTION 1 1 That It is proposed to amend section 18 article XII of the constitution of the state of ot Utah to read Sec 18 The They The legislature may provide by law that the stockholders stockholders stock stock- holders In every corporation and joint stock association organized I for banking purposes or the bolders holders holders hold bold ers of any anyone one or more of the classes of stock issued by any such corporation In addition to the am- am amunt amt nt of capital stock subscribed and fully paid by them shall be ba Ind virtually responsible for an addI addI- I tic tlc tic I I 1 amount equal to not exceedIng exceeding exceed exceed- in ing the amount of their stock In InI n I such corporation or or the amount of ot their stock of at any particular class In s sich I ith h corporation for tor all Us its debts I And liabilities of every kind I Section 2 2 The secretary of ot state Is directed to submit this I proposed amendment to the electors electors electors elec elec- tors of the state at the next nest general election In the manner provided by law Section 3 It If adopted by the electors of the state this amendment amendment amendment amend amend- ment shall take effect the first day of January 1941 1911 I 1 E. E E E. Monson Secretary of ot State of at the State of at Utah do hereby certify that the foregoing foregoing- Is a full Cull true and correct copy of at the Constitutional Amendment proposed proposed pro pro- I posed by the regular session of ot the legislature of 1939 as the same appears of record in my office In witness whereof I 1 have hereunto hereunto hereunto here here- unto set my hand and affixed the Great Seal of the State of Utah this da day of August 1940 Secretary of ot State |