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Show I Constitutional! I Amendment Liability or Stockholder of Banks A JOINT RESOLUTION PROPOSING PROPOS-ING TO AMEND SECTION 18, ARTICLE XI I OF THE CONSTITUTION CONSTI-TUTION OF THE STATE OF UTAH, RELATING TO LIABILITY LIABIL-ITY OF STOCKHOLDERS OF BANKS. Be ii enacted hy the Legislature of the ' State of Utah, two-thirds of all the members elected to each house concurring con-curring therein : SECTION 1. That it is proposed to amend section 48, article XII, 1 of the constitution of the state of. Utah to read: 1 Sec. 18. The legislature may ; provide by law that the stock-j stock-j holders in every corporation and I joint stock association organized for basking purposes, or the hold-! hold-! ers of any one or more of the I classes of stock issued by any such I corporation in addition to the I amount of capital stock subscribed ' and fully paid by them shall be ! individually responsible for an addi- j tional amount equal to not exceed-1 ing the amount of their stock in i such corporation, or the amount of their stock of any particular class in sueh corporation, for all its debts , and liabilities of every kind. I Section 2. The secretary of ! state is directed to submit this proposed amendment to the 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 I, E. E. Monson, Secretary of State of the State of Utah, do hereby certify that the foregoing is a full, true and correct copy of the Constitutional Amendment proposed pro-posed by the regular session of the legislature of 1939 as the same appears of record in my office. In witness whereof, I have hereunto here-unto set my hand and affixed the Great Seal of the State of Utah, this 2Gth day of August, 1940. Secretary of State. t |