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Stealth Globalization and Neighborhoods: Think Globally-Buy Commonwealths?
9-26-02
With consensus of the entire Advocacy Committee, and the
endorsement of the co-Chairs, I have been requested to
make an announcement to the membership regarding an item
to be contained as an amendment to the state constitution.
This is not an invitation for debate or discussion.
The item of interest is the second amendment, regarding corporate
oversight. It can be read as it will appear on the ballot at
http://www.statedecisions2002.com/state.aspx?sid=18
and says:
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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?
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What it doesn't say is that several things will change if it is adopted.
Read the changes carefully and you'll understand why corporate
lobbyists have quietly pushed for the amendment.
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The sections to be repealed are as follows: -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 Constitition; -
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; -
Section 208: Provides that the term "corporation" also includes joint stock
companies and associations.
Link for this info is at
http://www.ncsl.org/ncsldb/elect98/profile.cfm?yearsel=2002&statesel=KY
Submitted by Michael Baugh
Note from Emily Boone, LCON Advocacy Co-chair:
Paul,
The relevance is that if this amendment passes corporations can buy property
in neighborhoods and the neighborhoods will have less control over corporate
activities in our neighborhoods than we have now. Just as the NAFTA
organization has suied the State of California and the USA for injuring a
Canadian Company when the State of California voted not to allow a chemical
causing cancer to be put in the gasoline in California. The NAFTA court is
ruling on whether the State of California and the USA will have to pay for
the loss of this Canadian Company's FUTURE profit decreases because that
Canadian Company no longer has this customer. Where has our sovereignty
gone? When each of us gives up our power willingly, which this Ky.
Constitutional amendment does in regard to corporations, then we are making a
choice that will make our mission of maintaining and increasing the quality
of life in our neighborhoods harder. It is important to see the big picture
and not be ignorantly herded like cattle into a box canyon. The Advocacy
committee is asking that each person who WANTS information be facilitated in
obtaining it and not get to the election polls and be confronted with an
amendment about which they have heard nothing. The Advocacy Committee does
not want to encourage ignorance among our voting citizenry.
Emily Boone, 102 Pope Street, Louisville, Ky 40206-3119 Advocacy Committee
Co-Chair 585-3430
Background Information Links:
Program on Corporations, Law & Democracy http://www.poclad.org
History of State Constitutions and Corporate Charters: http://www.ratical.org/corporations/TCoBeij.html
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