Kentucky Proposed Corporations Amendment, Amendment 2 (2002)

## Contents

* 1 Election results
* 2 Text of measure
* 3 See also
* 4 External links
* 5 Footnotes

Kentucky Amendment 2, also known as the Proposed Corporations Amendment, was on the November 7, 2002 election ballot in Kentucky. It passed, with 61.3% of voters in favor.

## Election results[edit]

Kentucky Amendment 2

Result| Votes| Percentage
a Yes|  570,796|  60.75%
No| 368,854| 39.25%

## Text of measure[edit]

The language that appeared on the ballot:

Are you in favor of permitting the General Assembly to provide by general law for the formation, organization, and regulation of corporations by repealing certain sections of the Constitution of Kentucky relating to corporations?

Constitutional Changes Proposed by the Amendment

Currently, the Kentucky Constitution contains numerous sections that regulate corporations in detail. The proposed constitutional amendment would repeal 11 sections of the Kentucky Constitution relating to corporations and replace them with a section that permits the General Assembly to regulate corporations by general laws. The General Assembly would be given the power to prescribe powers, rights, duties, and liabilities of corporations and their officers and stockholders by general laws. The sections to be repealed are as follows:

\- Section 190: Provides that corporations in existence at the time of the adoption of the present Constitution shall file an acceptance of the provisions of the Constitution;

\- Section 191: Provides that unexercised charters granted prior to the adoption of the Constitution are revoked;

\- Section 192: Provides that corporations are limited to the exercise of the powers provided in their charters and shall not hold real estate longer than 5 years except that which is necessary and proper for carrying on legitimate business;

\- Section 193: Provides that stocks or bonds are to be issued only for money, property, or labor at fair market value;

\- Section 194: Provides that corporations shall have a place of business and process agent in the state;

\- Section 198: Prohibits trusts and combinations in restraint of trade;

\- Section 200: Provides that a domestic corporation consolidating with a foreign corporation does not become foreign;

\- Section 202: Provides that foreign corporations are not to be given privileges over domestic corporations;

\- Section 203: Provides that liabilities under a corporate franchise are not to be released by lease or alienation;

\- Section 207: Provides for cumulative voting for directors of a corporation; and

\- Section 208: Provides that the term "corporation" also includes joint stock companies and associations.

## See also[edit]

* List of Kentucky ballot measures
* 2002 ballot measures
* Kentucky 2002 ballot measures

| Suggest a link

|

## External links[edit]

* Kentucky 2002 Ballot Measure Election Results
* Kentucky Ballot Measures 2002

## Footnotes[edit]

v • e

2002 ballot measures

• Alabama 2002 ballot measures • Alaska 2002 ballot measures • Arizona 2002 ballot measures • Arkansas 2002 ballot measures • California 2002 ballot propositions • Colorado 2002 ballot measures • Florida 2002 ballot measures • Georgia 2002 ballot measures • Hawaii 2002 ballot measures • Idaho 2002 ballot measures • Kentucky 2002 ballot measures • Louisiana 2002 ballot measures • Maine 2002 ballot measures • Maryland 2002 ballot measures • Massachusetts 2002 ballot measures • Michigan 2002 ballot measures • Mississippi 2002 ballot measures • Missouri 2002 ballot measures • Montana 2002 ballot measures • Nebraska 2002 ballot measures • Nevada 2002 ballot measures • New Hampshire 2002 ballot measures • New Mexico 2002 ballot measures • North Carolina 2002 ballot measures • North Dakota 2002 ballot measures • Ohio 2002 ballot measures • Oklahoma 2002 ballot measures • Oregon 2002 ballot measures • Pennsylvania 2002 ballot measures • Rhode Island 2002 ballot measures • South Carolina 2002 ballot measures • South Dakota 2002 ballot measures • Tennessee 2002 ballot measures • Texas 2002 ballot measures • Utah 2002 ballot measures • Vermont 2002 ballot measures • Virginia 2002 ballot measures • Washington 2002 ballot measures • West Virginia 2002 ballot measures • Wyoming 2002 ballot measures •

v • e

State of Kentucky
Frankfort (capital)

|

Elections |

What's on my ballot? | Elections in 2026 | How to vote | How to run for office | Ballot measures

Government |

Who represents me? | U.S. President | U.S. Congress | Federal courts | State executives | State legislature | State and local courts | Counties | Cities | School districts | Public policy