Proto-proto: Zombies Incorporated.
[The following would take enacting several mechanisms; e.g. shares,
auctions, maybe debts. Therefore soliciting expressions of interest
before continuing].
1. Cleanup: All inactive, non-participating, or "scammy" partnerships
are deregistered. "Useful and contributing " partnerships (PNP; Bayes
if revived) are unaffected; new "useful" partnerships can still be
added by consent.
2. Enact the following:
a. Corporations are second-class persons. A contract can become
a corporation provided it has three members who are not members
of any other corporation and have not been members of
corporations created in the last 14 days. A corporation that
does not have three members that are not members of other
corporations CAN and SHOULD be deregistered by announcement.
b. Remove several restrictions on 2nd-class players (i.e.
previous list from comex).
c. When a corporation is created, a currency of 100 shares of
corporation {x} is created. These shares are tracked by
the Regulator {new office}. 51 of these are
distributed as evenly among members as specified in the
contract (by default as evenly as possible); remaining
shares are placed with the Bank. Shares may not be created
or destroyed unless the corporation is deregistered. Any
player may hold shares; corporations CANNOT forbid non-
members from transferring shares.
d. Key Power: *Any* shareholder (member or non member) may act
on behalf of the corporation with the support of [shareholders
adding up to a majority] Corporations CANNOT and SHALL NOT
forbid non-members from so acting or supporting said actions.
Shareholders are encouraged to use corps for their own benefit
(i.e. the AFO).
e. Corporate taxes: in a timely fashion before the beginning of
each month, the Regulator SHALL transfer 10% of each
shareholder's shares (minimum 1; otherwise rounded down) to
the bank.
f. As soon as possible after the beginning of each month, the
Regulator shall auction units consisting of blocks of shares
using the dutch auction procedure with Notes as the auction
currency [see below for an old auction procedure]. (various
question: mixed stock auctions? block sizes. etc.)
Rule 1887/18 (Power=1)
Auctions and the Default Auction Procedure
When an Auction is to be held and the procedure is not
specified, the Auctioneer may select a rules-defined Auction
Procedure. If e does not specify which procedure is to be used,
the Default Auction Procedure shall be used.
The Default Auction Procedure is as follows:
(a) Auctioneer: the Auctioneer is the Player who initiates the
Auction, and is responsible for collecting bids and
announcing the result of the Auction. If the Rules require
(or permit) an Auction to be initiated, but do not specify
which Player shall initiate it, then the Speaker shall (or
may) initiate it.
(b) Bidders: every active Player may bid in an Auction;
non-active Players may not bid. Activity is measured at the
time a Player sends eir bid.
(c) Auction Currency: each Auction is conducted in one
particular currency. The Rule providing for a particular
Auction must specify the currency to be used, or the Auction
cannot take place.
(d) Number of lots: each Auction is conducted for 1 or more
identical lots of identical items, which must all be owned
by the same entity. Throughout this Rule, N indicates the
number of lots up for bid in the Auction.
(e) Start of Auction: the Auction begins when the first
announcement that an Auction has begun is made by a Player
authorized to initiate the Auction. The announcement must
contain:
(1) the identity of the Auctioneer;
(2) the Auction Currency;
(3) the number of items being Auctioned; and
(4) the value of the Starting Bid.
(f) Errors in initiating Auctions: if one of the required
elements is missing from the announcement initiating the
Auction, or is incorrect, then the Auctioneer may let the
Auction stand Without 2 Objections. If the Auction stands,
then the announcement initiating the Auction is deemed to
have been legal and correct for the purposes of the
Rules. If the Auction does not stand, it is deemed not to
have occurred.
(g) Starting Bid: the Starting Bid is the minimum possible value
of a bid. If not otherwise specified, the Starting Bid is
equal to the MUQ of the Auction Currency.
(h) Bidding: a bid is a public message from a bidder identifying
the Auction e is bidding in, and specifying the amount of
eir bid. Each bidder may make as many bids as e likes during
the Auction. A bid is only valid if it satisfies the
following conditions:
(1) it is made after the start of the Auction, and before
its end;
(2) the amount of the bid is a multiple of the MUQ of the
Auction Currency; and
(3) the amount of the bid is no less than the Starting Bid.
(i) Cancelling bids: a bidder may cancel eir bid while the
Auction is in progress by publically identifying the bid to
be cancelled.
(j) End of Auction: the Auction ends if any of the following
occur:
(1) one week has passed from the start of the Auction, and
no bids have been made; or
(2) a bid has been made in the Auction, and 72 hours have
passed without there being a change in the N highest
bids in the Auction; or
(3) 14 days have passed since the Auction began.
(k) Winning bids: when the Auction ends, the winning bids are
the N largest uncancelled valid bids in the Auction (or all
valid uncancelled Bids, if there were less than N valid
uncancelled bids). Ties shall be broken in favor of earlier-
submitted bids. If there were no bids in the Auction, then
the Auction has no winner.
(l) Final Auction Price: the Final Auction Price is either:
(1) the amount of the Nth highest bid, if there were N or
more valid uncancelled bids in the auction; or
(2) the Starting Bid, if there were greater than zero but
fewer than N valid uncancelled bids.
(m) Billing for winning bids: as soon as possible after the end
of the Auction, the Auctioneer shall announce the winning
bids and issue to each winning bidder a separate bill for
each of eir winning bids.
(n) Defaulting: a winning bidder has a week from the time e is
billed by the Auctioneer for a winning bid e made to satisfy
the debt arising from that bid. If e does not do so, e
commits the Class 2 Infraction of Defaulting (reportable by
the Auctioneer), and thereafter loses eir right to purchase
the Auctioned item by paying the debt arising from that
bid. As soon as possible after a winning bidder defaults on
a bid, the Auctioneer shall Order the owner of the items
being Auctioned (normally the Bank) to forgive the
unsatisfied debt arising from the bid.
(o) Unless specified otherwise, the owner of the Auctioned items
shall incur a debt of one Auctioned lot of items to the
winning bidder when the bill for that lot is paid.
