Provisions
XI.8 proposed for 1916 • Insolvency of banks, preference.
REJECTED
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
• Has 30 words
• Was proposed by the Constitutional Convention
• Went to NYS voters as proposed amendment 4 of 1915
If New Yorkers voted to approve this provision, it would have:
• Joined the Constitution in 1916
• Been in Article XI: Corporations; municipal debts; boards and commissions
• Re-upped the text of a previously existing provision
• Amended or built on:
◦ 1895-VIII.8
Credits
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