Section 1. Certain unused charters void

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Certain unused charters void

The charters and privileges granted prior to 1874 to private corporations which had not been organized in good faith and commenced business prior to 1874 shall be void.

Summary: Repealing article regarding corporate formation and voting procedures; substituting a new article providing that unused charters issued before 1874 are void, allowing charters be amended or repealed, and providing time for payment of property taken by eminent domain

Election Date: November 8, 1966

Votes For Ratification: 1212790

Votes Against Ratification: 636925

Percent for Ratification: 66%

Percent Against Ratification: 34%

Notes:

Amendment Source: 1965 JR 3

Effective Date Source:

Unused charters to be void

All existing charters, or grants of special or exclusive privileges, under which a bona fide organization shall not have taken place and business been commenced in good faith, at the time of the adoption of this Constitution, shall thereafter have no validity.

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