HB435 Alabama 2010 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2010
Title
Banks and banking, Section 247, (Recompiled Constitution of Alabama of 1901, as amended), am'd. to prohibit establishment of a bank except by general banking law, to provide for unlimited duration, to prohibit political subdivisions from owning stock or lending credit, and to provide for examination requirements; Sections 248, 249, 251, 252, 253, 254 (Recompiled Constitution of Alabama of 1901, as amended), repealed, const. amend.
Description
<p class="bill_description"> Under the Constitution of Alabama of 1901,
Article XIII relates to banks and banking. This
bill would propose an amendment to the Constitution
which would rewrite one section of Article XIII as
generally described herein and would repeal certain
other sections</p><p class="bill_description">
This bill would subdivide Section 247 of the
Constitution of Alabama of 1901, now appearing as
Section 247 of the Official Recompilation of the
Constitution of Alabama of 1901, as amended, into
four subsections and amend the section by adding
language prohibiting any bank from being
established except by a general banking law as well
as inserting language formerly in Section 251,
Section 253, and Section 254 of the Constitution of
Alabama of 1901, now appearing as Sections 251,
253, and 254 of the Official Recompilation of the
Constitution of Alabama of 1901, as amended,
regarding unlimited duration, political
subdivisions may not be stockholders or lend
credit, and bank examination requirements</p><p class="bill_description">
This bill would repeal the following
Sections of Article XIII of the Constitution of
Alabama of 1901; 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, relating to banking
laws being general, specie basis, and the authority
to issue bills to circulate as money; 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, relating to bills or notes issued
as money redeemable in gold or silver and
specifying laws may not sanction suspension of the
specie payments; Section 251, as amended by
Constitutional Amendment 51 of the Constitution
Alabama of 1901, now appearing as Section 251 of
the Official Recompilation of the Constitution of
Alabama of 1901, as amended, relating to
termination of business; Section 252 of the
Constitution 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 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 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</p><p class="bill_description">
Section 250 of Article XIII was repealed by
Constitutional Amendment 5</p><p class="bill_description">
Section 255, relating to the applicability
of the article, would not be changed. Section
255.01, relating to nonresidents making mortgage
loans through licensed mortgage loan brokers, would
not be changed</p><p class="bill_entitled_an_act"> 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 to include in that
section existing provisions concerning unlimited duration,
political subdivisions may not be stockholders or lend 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 Constitutional Amendment 51,
now appearing as Section 251 of the Official Recompilation of
the Constitution of Alabama of 1901, as amended; Section 252
of the Constitution 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.
</p>
Subjects
Constitutional Amendments
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| April 14, 2010 | Indefinitely Postponed | |
| February 4, 2010 | Constitution and Elections first Substitute Offered | |
| February 4, 2010 | Read for the second time and placed on the calendar with 1 substitute and | |
| January 26, 2010 | Read for the first time and referred to the House of Representatives committee on Constitution and Elections |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB435 Alabama 2010 Session - Introduced |