South Dakota Corporate Language Amendment, Constitutional Amendment M (2012)
|Constitutional Amendment M|
|Type:||legislatively-referred constitutional amendment|
|Constitution:||South Dakota Constitution|
|Referred by:||South Dakota Legislature|
- See also: 2012 ballot measure election results
The following are official election results:
|South Dakota Amendment M|
Official results via South Dakota Secretary of State.
Text of measure
The official ballot text read as follows:
Title: An Amendment to the South Dakota Constitution regarding certain provisions relating to corporations.
Explanation: The Constitution currently contains certain restrictions on the Legislature’s authority to enact laws regarding corporations. For example, corporate directors must be elected by cumulative voting, in which a shareholder may choose to cast all votes for a single candidate or spread the votes among two or more candidates. Corporate stock or bonds may only be issued for money, labor or property received by the corporation. Corporate stock or debt may not be increased without prior notice to and consent of current stockholders.
Constitutional Amendment M removes these restrictions, and allows the Legislature to: (1) authorize alternative methods of voting in elections for corporate directors; (2) expand the types of contributions a corporation may receive for the issuance of stock or bonds; and (3) establish procedures governing the increase of corporate stock or debt.
A vote “Yes” will remove the constitutional restrictions.
A vote “No” will leave the Constitution as it is.
No formal support was identified.
No formal opposition was identified.
Path to the ballot
The state legislature ended session sending the measure to the ballot, reports said.
| By Eric Veram|
Ballot measure writer
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