Senate Constitutional Amendment 22. Amends Section 7, Article XII, of Constitution. Authorizes any quasi-public corporation to extend its term of existence, prior to expiration thereof, for not exceeding fifty years from date of extension, by vote or written consent of stockholders representing two-thirds of its stock or of two-thirds of its members; extension of any corporation's term not to extend term of any franchise previously held, owned or controlled by it; requires public utility corporation first obtain written consent of Railroad Commission or body having jurisdiction over issuance of its securities.
Popular Vote Results
Y: 703256; A: 68.1; N: 329692; B: 31.9
Senate Constitutional Amendment
Code Sections Affected
Amended Cal. Const. art. XII, section 7.
H. C. Nelson, State Senator, First District; Ralph E. Swing, State Senator, Thirtieth District
AUTHORIZING QUASI-PUBLIC CORPORATIONS TO EXTEND TERM OF EXISTENCE California Proposition 14 (1928).