- Associated Press - Friday, April 3, 2015

JUNEAU, Alaska (AP) - Alaska Native corporations could change their rules to adjust quorum requirements if a bill passed by the state House makes it through the Senate.

The House on Thursday passed Rep. Lance Pruitt’s bill, which would allow Native corporations incorporated prior to July 1, 1989 to adopt new rules reducing the number of shareholders needed to meet a quorum at a meeting.

Under the bill, a corporation could require as little as one-third of shares to be represented in person or by proxy.

Pruitt said the change would allow corporations more flexibility as shareholders are becoming more geographically dispersed.

The bill now goes to the Senate for consideration.

LOAD COMMENTS ()

 

Click to Read More

Click to Hide