South Dakota Corporate Language Amendment, Constitutional Amendment M (2012)
| Constitutional Amendment M | |
 | |
| Quick stats | |
| Type: | legislatively-referred constitutional amendment |
| Constitution: | South Dakota Constitution |
| Referred by: | South Dakota Legislature |
| Topic: | Constitutional language |
| Status: |  |
Contents |
Election results
- See also: 2012 ballot measure election results
The following are official election results:
| South Dakota Amendment M | ||||
|---|---|---|---|---|
| Result | Votes | Percentage | ||
| No | 228,720 | 70.4% | ||
| Yes | 96,187 | 29.6% | ||
Official results via South Dakota Secretary of State.
Text of measure
The official ballot text read as follows:[2]
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.
Support
No formal support was identified.
Opposition
No formal opposition was identified.
Path to the ballot
Section 1 of Article XXIII of the South Dakota Constitution says that the South Dakota State Legislature can refer a proposed amendment to the state's voters through a majority vote.
The state legislature ended session sending the measure to the ballot, reports said.[1]
See also
| By Eric Veram Ballot measure writer |
| Email • Submit a link |
- 2012 ballot measures
- South Dakota 2012 ballot measures
- List of South Dakota ballot measures
- South Dakota Legislature
External links
- South Dakota Legislature official website
- South Dakota Secretary of State official website
- South Dakota Secretary of state ballot question voter guide
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