Proposition Summary

Senate Constitutional Amendment 34. Amends Section 16 ½ Article XI of Constitution/ Authorizes state, county or municipality to deposit moneys in national banks within state, or banks organized under laws thereof, as permitted by any law adopted by initiative or by two-thirds vote of each house of legislature approved by governor and subject to referendum, and, when issuing bonds, in banks outside state to pay principal or interest thereof where payable; eliminates provisions requiring security for deposits, interest thereon and limiting amounts thereof, continuing present laws governing deposits until amended or repealed.

Proposition Number

2

Year

1918

Document Type

Proposition

Pass/Fail

Pass

Popular Vote Results

Y: 239203; A: 56.9; N: 180856; B: 43.1

Election Type

General Election

Proposition Type

Senate Constitutional Amendment

Code Sections Affected

Amended Cal. Const. art. XI, section 16 1/2.

For Author

Edward J. Tyrrell, State Senator Sixteenth District; Lyman M. King, State Senator Thirtieth District

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