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North Dakota Corporation Voting and Rights Referendum, Constitutional Measure 1 (2004)

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The North Dakota Corporation Voting and Rights Referendum, also known as Constitutional Measure 1, was on the June 8, 2004 ballot in North Dakota as a legislatively-referred constitutional amendment, where it was defeated.[1] The measure would have allowed corporations to adopt bylaws that may include the same right then available to cooperative associations to limit voting for the election of directors. It also would have removed the requirement that existing stockholders consent to the issuance of additional stock.[2]

Election results

North Dakota Constitutional Measure 1 (2004)
ResultVotesPercentage
Defeatedd No44,03858.33%
Yes 311,461 41.67%

Election results via: North Dakota Secretary of State, Official Vote of Primary Election, 2004

Text of measure

See also: North Dakota Constitution, Article XII, Section 6 and Section 9

Ballot title

The language appeared on the ballot as:[3]

CONSTITUTIONAL MEASURE NO. 1
(Senate Concurrent Resolution No. 4013, 2003 Session Laws, Ch. 578)

This constitutional measure would amend sections 6 and 9 of article XII of the North Dakota Constitution.

This measure would allow corporations to adopt bylaws that may include the same right now available to cooperative associations to limit voting for the election of directors and would remove the requirement that existing stockholders consent to the issuance of additional stock.

A “YES” vote means you approve the measure as summarized above.

A “NO” vote means you reject the measure as summarized above. [4]

Constitutional changes

The measure would have made the following changes to Section 6 and Section 9 of Article XII of the North Dakota Constitution with the crossed out text being removed and the underlined text being added:[5]

Section 6. In all elections for directors or managers of a corporation, each member or shareholder may cast the whole number of his the votes of the member or shareholder for one candidate, or distribute them upon two or more candidates, as he the member or shareholder may prefer, provided, any cooperative a corporation may adopt bylaws limiting the voting power of its stockholders members or shareholders.

Section 9. No A corporation shall may not issue stock or bonds except for money, labor done, or money or property actually received; and all fictitious increase of stock or indebtedness shall be is void. The stock and indebtedness of corporations shall may not be increased except in pursuance of general law, nor without the consent of the persons holding the larger amount in value of the stock first obtained.


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This historical ballot measure article requires the text of the measure to be added to the page.