Section 3. Revocation, Amendment and Repeal of Charters and Corporation Laws

Revocation, Amendment and Repeal of Charters and Corporation Laws

All charters of private corporations and all present and future common or statutory law with respect to the formation or regulation of private corporations or prescribing powers, rights, duties or liabilities of private corporations or their officers, directors or shareholders may be revoked, amended or repealed.

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substituting a new article providing that unused charters issued before 1874 are void, allowing charters be amended or repealed, and providing time for payment of property taken by eminent domain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: