South Dakota Enact House Bill 1139, Constitutional Amendment H (2008)
The measure, if it had passed, would have repealed provisions of the South Dakota Constitution relating to corporations.
"The Constitution limits “corporations” to business entities with powers or privileges not possessed by individuals or partnerships. The Constitution also requires the payment of money, property or labor for issuance of corporate stock and bonds; prohibits the increase of corporate stock and debt without consent of stockholders holding a larger value of stock first obtained; and protects cumulative voting rights of stockholders.
Constitutional Amendment H would have repealed the above provisions and permitted a 2008 Legislative Session bill (HB 1139) to become law. The new law would have allowed a corporation to restrict cumulative voting and to issue corporate stock for any consideration determined to be adequate by its board of directors."
See also 2008 ballot measure election results
These results are based on the Elections Division of South Dakota.
|South Dakota Amendment H (2008)|
Representative Mark Feinstein, a Democrat from Sioux Falls, and Patrick Goetinger of Rapid City, co-chairs of the Business Law Committee of the State Bar of South Dakota wrote the "pro" arguments for the measure for the state Ballot Question Pamphlet:
- The current language of the Constitution deters economic development. This update would help South Dakota remain competitive.
- Amendment H eliminates a constitutional provision preventing corporations from issuing stock as a form of payment, giving corporations greater leeway.
No writer for the opposing viewpoint could be found by the Secretary of State.
- Text of measure
- 2008 South Dakota Ballot Questions Pamphlet
- South Dakota Ballot Question Status from the Secretary of State
- Attorney General explanation
- South Dakota Elections Division, 2008 Election Results
- 2008 South Dakota Ballot Question pamphlet, Pro -- Constitutional Amendment H
- 2008 South Dakota Ballot Question pamphlet, Con -- Constitutional Amendment H
- Voters need to pass Amendment G to get legislative travel up to date, Dakota Voice, September 22, 2008
- Voters Will Decide Seven Issues, Marshall County Journal, October 1, 2008