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  1. Overview: Arizona Constitutional Convention (1910) [2023 Edition]
  2. Full Record: Arizona Constitutional Convention (1910) [2023 Edition]
  3. Committee:Convention
  4. Session: 1910-10-19 09:00:00
  5. Event type: CREATE

Arizona Constitutional Convention (1910) [2023 Edition]

Convention

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Document introduced in:

Session 15830: 1910-10-19 09:00:00

The Convention considers Propositions Number 46 through 55, which are read the first time and referred to the Committee on Printing. Resolutions Number 3 and 5 are adopted. Propositions Number 1 and 3 are read a second time.

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Proposition Number 53 - Banking

There are 0 proposed amendments related to this document on which decisions have not been taken.

A PROPOSITION

No. 53.

Introduced by Mr. A. C. Baker of Maricopa County.

A Proposition Relative to Banking.

It is hereby proposed:

Section 1. No president, cashier, teller, clerk, agent, or director of any association or corporation engaged in the business of banking in this State shall be directly or indirectly permitted to borrow any of the moneys, funds, or credits of such association or corporation, nor to lend such moneys, funds, or credits to any association or corporation in which such president, cashier, teller, clerk, agent, or director may be its president, cashier, teller, clerk, agent, director, or stockholder or may have any interest therein; and no person or persons, whether as copartners or as individuals, engaged in the banking business, or who receives or accepts moneys on deposit or for safe-keeping from or for any other person, coparntership, association, or corporation in this State, shall be directly or indirectly permitted, without the consent of the depositors or owners of such moneys, to borrow such moneys nor to lend such moneys, to any copartnership, association, or corporation in which such person or persons receiving or accepting such moneys on deposit or for safe-keeping, may be a member, president, cashier, teller, clerk, agent, director, or stockholder, or may have any interest therein and the legislature shall at its first session, provide appropriate pains and penalties, to prevent and punish any violation of this article.

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