Senate Constitutional Amendment 24. Amends Sections 1 and 7, and repeals Sections 2, 3, 9, 11, 12 and 14 of Article XII of Constitution. Empowers Legislature by general laws to provide for formation, organization and regulation of corporations, prescribe their powers, rights, duties and liabilities, and those of their' officers, stockholders and members, and provide for extension of term of existence of all corporations formed for limited period, but shall not extend franchise of any quasi-public corporation nor remit forfeiture thereof. Declares present laws concerning corporations and those hereafter passed pursuant hereto may be altered or repealed.
Popular Vote Results
Y: 530432; A: 59.5; N: 360968; B: 40.5
Senate Constitutional Amendment
Code Sections Affected
Amended Cal. Const. art. XII, sections 1 and 7. Repealed Cal. Const. art. XII, sections 2, 3, 9, 11, 12 and 14.
J. M. Inman, State Senator, Seventh District
CORPORATIONS California Proposition 16 (1930).