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Show Constitutional Amendment Liability of Stockholders or Bails' A JOINT RESOLUTION PRopn INC TO AMEND SECTION is ARTICLE XII OF THE COVST; TUTION OF THE STATE np UTAH, RELATING TO LlABIL ITY OF STOCKHOLDERS op BANKS. Be 11 enacted l the Leghlalure of I, Stale of Utah, too-thirdi of all tfo members elected to each homt . curring therein: SECTION 1. That it is propose to amend section IS, article XII of the constitution of the state nf Utah to read: ' See. 18. The legislature ma, provide by law that the stock holders in every corporation ami Joint stock association organized for banking purposes, or the hold, ers of any one or more of the- classes of stock issued by any such corporation in addition to th amount of capital stock subscribed and fully paid by them shall individually responsible for an add!, tional amount equal to not eiceed! ing the amount of their stock ia" such corporation, or the amount ot their stock of any particular class in such corporation, for all its debts and liabilities of every kind. Section 2. The secretary 0(-state 0(-state is directed to submit this proposed amendment to the elec-tors elec-tors of the state at the next general election in the manner provided by law. Section 3. If adopted by the electors of the state, this amendment amend-ment shall take effect the first day of January, 1941. I, E. E. Monson, Secretary of State of the State of Utah, do-hereby do-hereby certify that the foregoing is a full, true and correct copy ot the Constitutional Amendment proposed pro-posed by the regular session ot th legislature of 1939 as the sam appears of record in my office. In witness whereof, I have here-unto here-unto set my hand and affiled th Great Seal of the State ot Ctalv this 26th day of August, 1940. Secretary ot State.. |