Alliance for Citizens Rights

HB49      By Representative Venable    RFD Elections     Rd 1 08-JAN-2002

Copied from legislature.state.al.us

 

 

Under the Constitution of Alabama of 1901, Article XIII relates to banks and banking. This bill would propose a constitutional amendment to repeal Article XIII of the Constitution of Alabama of 1901, relating to banks and banking, comprised of the following sections: Section 247, relating to the authority of the Legislature; Section 248, relating to banking laws being general, specie basis, and the authority to issue bills to circulate as money; Section 249, relating to bills or notes issued as money redeemable in gold or silver and specifying laws may not sanction suspension of specie payments; Section 251, as amended by Constitutional Amendment 51, relating to termination of business; Section 252, relating to maximum rate of interest; Section 253, relating to state and political subdivisions not to be stockholders in banks or lend credit thereto; Section 254, relating to examinations of banks by public officers and semiannual reports by banks; and Section 255, relating to applicability of article. Section 250 of Article XIII was repealed by Constitutional Amendment 5.

 

A BILL

TO BE ENTITLED

AN ACT

 

Proposing an amendment to the Constitution of Alabama of 1901, to repeal Article XIII, relating to banks and banking, comprised of Sections 247 to 249, inclusive, and Section 251, as amended by Amendment 51, and Sections 252 to 255, inclusive.

 

BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:

 

Section 1. The following amendment to the Constitution of Alabama of 1901, as amended, is proposed and shall become valid as a part thereof when approved by a majority of the qualified electors voting thereon and in accordance with Sections 284, 285, and 287 of the Constitution of Alabama of 1901, as amended:

 

                          PROPOSED AMENDMENT

 

Article XIII of the Constitution of Alabama of 1901, relating to banks and banking, comprised of the following sections, is repealed: Section 247, relating to the authority of the Legislature; Section 248, relating to banking laws being general, specie basis, and the authority to issue bills to circulate as money; Section 249, relating to bills or notes issued as money redeemable in gold or silver, laws may not sanction suspension of specie payments; Section 251, as amended by Constitutional Amendment 51, relating to termination of business; Section 252, relating to maximum rate of interest; Section 253, relating to state and political subdivisions not to be stockholders in banks or lend credit thereto; Section 254, relating to examination of banks by public officers and semiannual reports by banks; and Section 255, relating to applicability of article.

 

END OF PROPOSED AMENDMENT

 

Section 2. An election upon the proposed amendment shall be held in accordance with Sections 284 and 285 of the Constitution of Alabama of 1901, as amended, and the election laws of this state.

 

Section 3. The appropriate election official shall assign a ballot number for the proposed constitutional amendment on the election ballot and shall set forth the following description of the substance or subject matter of the proposed constitutional amendment: "Proposing an amendment to the Constitution of Alabama of 1901, to repeal Article XIII concerning banks and banking.

 

Proposed by Act ________."

 

This description shall be followed by the following language: "Yes ( ) No ( )."

 

 

Constitutional Amendments

 

Elections

 

Banks and Banking

 

Business and Commerce

 

Business Regulation