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Measure Details

Proposed Statewide Amendment Number 10

Alabama Ballot Measure - Statewide Amendment 10

Election: Nov. 6, 2012 (General)
Outcome: Passed

Categories:
Constitution
Finance and Banking

Yes
778,996
(54.05%)

No
662,372
(45.95%)

Summary

Proposing an amendment to the Constitution of Alabama of 1901, to amend Section 247 now appearing as Section 247 of the Official Recompilation of the Constitution of Alabama of 1901, as amended, relating to the general power of the Legislature regarding banks and banking, effective January 1, 2014, to include in that section existing provisions concerning unlimited duration, prohibitions on political subdivisions being stockholders or lending credit, and bank examination requirements; and to repeal the following Sections of Article XIII, relating to banks and banking: Section 248 of the Constitution of Alabama of 1901, now appearing as Section 248 of the Official Recompilation of the Constitution of Alabama of 1901, as amended; Section 249 of the Constitution of Alabama of 1901, now appearing as Section 249 of the Official Recompilation of the Constitution of Alabama of 1901, as amended; Section 251 of the Constitution of Alabama of 1901, as amended by Amendment 51 of the Constitution of Alabama of 1901, now appearing as Section 251 of the Official Recompilation of the Constitution of Alabama of 1901, as amended; Section 252 of the Constitution of Alabama of 1901, now appearing as Section 252 of the Official Recompilation of the Constitution of Alabama of 1901, as amended, relating to maximum rate of interest; Section 253 of the Constitution of Alabama of 1901, now appearing as Section 253 of the Official Recompilation of the Constitution of Alabama of 1901, as amended, relating to state and political subdivisions not to be stockholders in banks or lend credit thereto; and Section 254 of the Constitution of Alabama of 1901, now appearing as Section 254 of the Official Recompilation of the Constitution of Alabama of 1901, as amended, relating to examinations of banks by public officers and semiannual reports by banks; to repeal Amendment 154 of the Constitution of Alabama of 1901, now appearing as Section 255.01 of the Official Recompilation of the Constitution of Alabama of 1901, as amended, on the contingency that a new Article XII is adopted as a part of the Alabama Constitution which repeals existing Section 232 of the Official Recompilation of the Constitution of Alabama of 1901, as amended, and on the contingency that Sections 10A-2-15.01 and 10A-2-15.02, Code of Alabama 1975, are repealed.

Measure Text

Proposing an amendment to the Constitution of Alabama of 1901, effective January 1, 2014, to amend Section 247 relating to the authority of the Legislature concerning banks and banking, to repeal various other provisions of Article XIII concerning banks and banking; and to repeal Amendment 154 to the Constitution of Alabama of 1901, now appearing as Section 255.01 of the Official Recompilation of the Constitution of Alabama of 1901, as amended, subject to the contingency that a new Article XII of the state constitution is adopted that repeals existing Section 232 of the state constitution, and subject to the contingency that Sections 10A-2-15.01 and 10A-2-15.02, Code of Alabama 1975, are repealed. (Proposed by Act 2012-276)

Yes ( )
No ( )

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