I apply the Amendment Proposal "Shorter Voting Periods", which has the following text.
--- Shorter Voting Periods Replace the second paragraph of Bylaw 2: Proposals with the following: If a Corporate Proposal was submitted more than 4 but fewer than 21 days ago, and the proposal has approval (as defined in other bylaws), and the proposal has not been applied, then any member may, by announcement, apply the proposal, which has effects as defined in other bylaws. If Bylaw 6: Recordkeeping contains an unordered list, add as a new item at the end of that list the following: - Agoran decisions to select its holder have a voting period of 4 days --- The new text of the contract follows. I intend, without objection, to ratify that the Dragon Corporation contract has the following text. -Aris --- ## Bylaw 1: Definition This contract is named "the Dragon Corporation". The purpose of the Dragon Corporation is to earn as much money as possible for its shareholders. All other provisions of this contract notwithstanding, this contract does not permit any entity to act on behalf of any other entity. Shares of Dragon stock (also known as "shares of DRGN", or, in this contract, "shares") are a currency whose purpose is to represent ownership of the Dragon Corporation. An entity which owns at least one share is known as a shareholder. If, at any time, the Dragon Corporation or the Lost and Found Department owns any shares, then those shares are destroyed. Any person CAN, by announcement, become a party to this contract or cease to be a party to this contract. A shareholder who is a party to this contract is known as a member. Wherever this contract states that an entity becomes a party to this contract or ceases to be a party to this contract, all parties to this contract are considered to consent to this change. ## Bylaw 2: Proposals Any member CAN, by announcement, submit a Corporate Proposal. A Corporate Proposal must have exactly one of the types defined by this contract. Thereafter, any member CAN vote FOR or AGAINST that proposal by announcement, or retract such a vote, which causes the vote to become null and void. Whenever a member votes, all of eir previous votes on the same proposal are implicitly retracted. If a Corporate Proposal was submitted more than 4 but fewer than 21 days ago, and the proposal has approval (as defined in other bylaws), and the proposal has not been applied, then any member may, by announcement, apply the proposal, which has effects as defined in other bylaws. Members SHALL NOT submit, vote for, or apply proposals that are egregiously unfair to other shareholders (such as a proposal which takes or revokes shares from minority shareholders without just compensation). ## Bylaw 3: Amendment Proposals An Amendment Proposal is a type of Corporate Proposal. An Amendment Proposal has approval if at least one member has voted FOR it, and the number of shares owned by members who have voted FOR it is at least 2 times the number of shares owned by members who have voted AGAINST it. When an Amendment Proposal is applied, the following occur: 1. Each party to this contract who has not consented to the application of the proposal ceases to be a party to this contract. A party who has voted FOR a proposal consents to the application of that proposal, unless e has publicly stated otherwise at or after the time at which e voted FOR it. 2. This contract is modified as described in the proposal. However, the application of an Amendment Proposal is INEFFECTIVE unless, in the same message, the entity who applies the proposal also publishes a text which is labeled as being the text of this contract after the application. E SHOULD, at that point, publish intent to ratify that text without objection. ## Bylaw 4: Ordinary Proposals An Ordinary Proposal is a type of Corporate Proposal. An Ordinary Proposal has approval if the number of shares owned by members voting FOR it is greater than the number of shares owned by members voting AGAINST it. When an Ordinary Proposal is applied, assets are created, destroyed, and/or transferred as described in the proposal; and entities may create, destroy, and/or transfer assets as permitted in the proposal. Such permission expires 30 days after the proposal is applied. After an Ordinary Proposal is applied, the person who applied it SHOULD publish a description of its effects in a timely fashion, including all balances of assets defined by this contract which were affected by the proposal. ## Bylaw 5: Bonds and Banknotes Perpetual Dragon bonds (hereinafter "bonds") are a currency. Banknotes are a currency. At the beginning of each Agoran quarter, each entity is awarded a number of banknotes equal to the number of bonds that e owns. If an entity owns a banknote, e CAN redeem the banknote by transferring 1 coin from the Dragon Corporation to emself; the banknote is then destroyed. ## Bylaw 6: Recordkeeping If a party to this contract owns more shares than any other party to this contract, then that party becomes the President of the Dragon Corporation, if e is not already the President. The former President SHALL publicly inform the new President of this event in a timely fashion. The President is the recordkeepor of all assets defined by this contract, except those for which this contract specifies a different recordkeepor. ## Bylaw 7: IPO Within 90 days after this contract is created, any entity CAN pay a fee of 10 coins or 10 banknotes to the Dragon Corporation to buy a share. When e does this, e is awarded 1 share. Within 90 days after this contract is created, any entity who owns at least 1 share may sell the share by announcement. When e does this, the share is destroyed and e is awarded 5 banknotes.
