Texas Proposition 4, Regulation of Loans and Lenders Amendment (1960)

Texas Proposition 4
Election date November 8, 1960
Topic Business regulations and State legislatures measures
Status Approved
Type Legislatively referred constitutional amendment	Origin State legislature

Texas Proposition 4 was on the ballot as a legislatively referred constitutional amendment in Texas on November 8, 1960. It was approved.

A "yes" vote supported the amendment to provide the legislature with the power to regulate loans and lenders.

A "no" vote opposed the amendment to provide the legislature with the power to regulate loans and lenders.

Election results

Texas Proposition 4
Result		Votes	Percentage
Yes		1,088,993	74.68%
No		369,132	25.32%

Results are officially certified.

Source

Text of measure

Ballot title

The ballot title for Proposition 4 was as follows:

“

Proposing an amendment giving the Legislature authority to classify loans and lenders, license and regulate lenders, define interest, fix maximum rates of interest, and provide for a maximum rate of interest of ten per centum (10%) per annum in the absence of legislation setting maximum rates of interest.

”

Full Text

The full text of this measure is available here.

Path to the ballot

See also: Amending the Texas Constitution

A two-thirds vote was needed in each chamber of the Texas State Legislature to refer the constitutional amendment to the ballot for voter consideration.

The constitutional amendment was introduced into the Texas State Legislature as House Joint Resolution Six during the 56th regular legislative session in 1959.

See also

1960 Measures

• 1960 Measures
• State legislatures measures on the ballot
• Business regulations on the ballot
• 1960 legislative sessions

Texas

• Texas ballot measures
• Texas ballot measure laws

News and analysis

• Ballot measure lawsuits
• Ballot measure readability
• Ballot measure polls

External links

• Legislative Reference Library of Texas, Constitutional Amendments