Under current UK law, the NUJ claims, the union must have a dedicated political fund to finance campaigns that could be construed as being for, or against, any political party.
It argues that the union is currently at risk of being legally challenged over ongoing campaigns - which include protecting the BBC and demanding improved safety for journalists working in war zones - if they could be seen to be campaigning on any party political level.
"This is becoming increasingly urgent because the union is doing more and more political work, so it is just covering itself," said Tim Gopsill, editor of union magazine the Journalist.
"One argument for a 'no' vote is that we've never yet been challenged, so why do we need this fund?
"But that's like saying your house has never burnt down, so you don't need house insurance."
In October last year, the union took the decision to lobby its members for a 'yes' vote.
Chris Wheal, freelance journalist and former member of the union's National Executive Council, is frustrated that the case against the fund has not been properly put to members and last week established a web site to present the case for a 'no' vote.
"If the 'yes' campaign is so confident, why will they not allow a full and frank debate?" asked Mr Wheal.
"It would be in the spirit of the NUJ - and in the spirit of the free press - to give equal space to the 'no' camp. It saddens me that there hasn't been an open debate."
High-profile journalists such as Channel 4 News presenter Jon Snow, BBC's Newsnight presenter Jeremy Paxman and Newsnight political editor Martha Kearney have all spoken out in favour of the 'no' vote, stating their concern that the NUJ must remain politically independent.
"Hopefully if members want to find out more they will look at our site," said Mr Wheal.
"All the information is there."
The argument for a political fund:
http://www.nuj.org.uk/front/inner.php?docid=653&doctypeid=8
The argument against a political fund:
http://www.nopartypoliticsnuj.co.uk
Related articles:
http://www.journalism.co.uk/news/story753.shtml
http://www.journalism.co.uk/news/story744.shtml
http://www.journalism.co.uk/news/story715.shtml
http://www.journalism.co.uk/news/story710.shtml
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