Constitutional Amendments (Arguments For and Against) Abridged

Brief Analysis of Proposed Constitutional Amendment 3:  Move Corporate Chartering Duties From PRC to Secretary of State

2012

Constitutional Amendment 3 proposes to amend Article 11, Section 2 of the Constitution of New Mexico to remove the duties to charter and regulate corporations from the Public Regulation Commission ("PRC"). It proposes to place only the duty to charter corporations with the Office of the Secretary of State to be carried out in a manner established by the Legislature. The amendment is silent as to the regulation of corporations