FULL TEXT OF CONSTITUTIONAL AMENDMENT 3
2012
A JOINT RESOLUTION PROPOSING TO AMEND ARTICLE 11, SECTION 2 OF THE CONSTITUTION OF NEW MEXICO AND TO ENACT A NEW SECTION OF ARTICLE 11 TO REMOVE AUTHORITY TO CHARTER AND REGULATE CORPORATIONS FROM THE PUBLIC REGULATION COMMISSION AND PROVIDE AUTHORITY TO CHARTER CORPORATIONS TO THE SECRETARY OF STATE. BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: SECTION 1. It is proposed to amend Article 11, Section 2 of the constitution of New Mexico to read: "The public regulation commission shall have responsibility for [chartering and regulating business corporations in such manner as the legislature shall provide. The commission shall have responsibility for] regulating public utilities, including electric, natural gas and water companies; transportation companies, including common and contract carriers; transmission and pipeline companies, including telephone, telegraph and information transmission companies; insurance companies and others engaged in risk assumption; and other public service companies in such manner as the legislature shall provide." SECTION 2. It is proposed to amend Article 11 of the constitution of New Mexico by adding a new section to read: "The secretary of state shall have responsibility for chartering corporations in such a manner as the legislature shall provide."
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