[1][2] The Organic Law took effect as of 1 January 1967 and remained in place until the constitution of 1978 was enacted by a referendum the same year, following Franco's death and the resumption of parliamentary government through a fully and directly elected assembly.

[3] The new constitution, the Organic Law of the State (Spanish: Ley Orgánica del Estado), stipulated a slight restraint on General Francisco Franco's autocratic powers as the Head of State, limiting such powers to the formulation of general state policy, representing Spain in foreign relations as well as to ratifying treaties and exercising supreme command of the Armed Forces and serving as the head of the Movimiento Nacional—the coalition of political, economic and military sectors supporting the dictatorship and the right to legislate by decree.

After a Law of Succession was approved in a 1947 referendum, the Headship of State would be replaced by that of King of Spain with the same authorities and functions after Franco's death.

The choice of heir belonged to the Head of State alone, to be confirmed in the Cortes Españolas by a two-thirds majority and subsequently passed on through inheritance.

The Organic Law also included that the Council of the Realm be reduced from 17 members to 13 (ten elected by the Cortes, seven appointed by the Chief of State), and the Cortes from 611 deputies to 403 (108 directly-elected, 25 appointed by the Head of State, with the rest elected by corporate bodies), and confirmed freedom of religion for Spanish Jews and Protestants.