Provisions
VIII.8 of 1895 • Insolvency of banks, preference.
APPROVED
The Text
In case of the insolvency of any bank or banking association, the billholders thereof shall be entitled to preference in payment over all other creditors of such bank or association.
A Few Facts
• Joined the Constitution in 1895
• In Article VIII: Corporations and Charities
• Has 30 words
• Was proposed by the Constitutional Convention
• Went to NYS voters as proposed amendment 1 of 1894
• Re-upped the text of a previously existing provision
• Amends or builds on:
◦ 1847-VIII.8
Credits
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