HB358 Alabama 2012 Session
Signed by Governor
Bill Summary
Sponsors
Session
Regular Session 2012
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requirements; Sections 248, 249, 251, 252, 253, 254 (Recompiled Constitution of Alabama of 1901, as amended), repealed upon certain contingency, const.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, effective January 1, 2014, 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
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, relating to termination of
business; 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; 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, would be repealed 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 that Sections 10A-2-15.01 and 10A-2-15.02, Code
of Alabama 1975, are repealed</p><p class="bill_description">
Section 255, relating to the applicability
of the article, 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, 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.
</p>
Subjects
Constitutional Amendments
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| May 2, 2012 | Delivered to Secretary of State at 4:51 p. m. on May 2, 2012. | |
| May 2, 2012 | Assigned Act No. 2012-276. | |
| May 2, 2012 | Clerk of the House Certification | |
| May 2, 2012 | Signature Requested | |
| May 2, 2012 | Enrolled | |
| May 2, 2012 | Passed Second House | |
| May 1, 2012 | Motion to Read a Third Time and Pass adopted Roll Call 873 | |
| May 1, 2012 | Third Reading Passed | |
| March 22, 2012 | Read for the second time and placed on the calendar | |
| March 15, 2012 | Read for the first time and referred to the Senate committee on Constitution, Campaign Finance, Ethics, and Elections | |
| March 15, 2012 | Motion to Read a Third Time and Pass adopted Roll Call 362 | |
| March 15, 2012 | Third Reading Passed | |
| March 1, 2012 | Read for the second time and placed on the calendar | |
| February 16, 2012 | Read for the first time and referred to the House of Representatives committee on Constitution, Campaigns and Elections |
Bill Text
Bill Votes
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB358 Alabama 2012 Session - Introduced |
| Bill Text | HB358 Alabama 2012 Session - Enrolled |