Legislature(2015 - 2016)BARNES 124

03/28/2015 10:00 AM House COMMUNITY & REGIONAL AFFAIRS

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* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ Bills Previously Heard/Scheduled TELECONFERENCED
Moved HB 149 Out of Committee
Heard & Held
              HB 149-NATIVE CORP. ART. AMENDMENTS                                                                           
10:07:28 AM                                                                                                                   
CHAIR TILTON announced  that the first order of  business would be                                                              
HOUSE  BILL NO.  149,  "An Act  relating to  an  amendment of  the                                                              
articles  of  incorporation  of  certain  Native  corporations  to                                                              
establish a lower quorum requirement for shareholder meetings."                                                                 
10:07:59 AM                                                                                                                   
REPRESENTATIVE  LANCE PRUITT, Alaska  State Legislature,  speaking                                                              
as the  sponsor of  HB 149, clarified  that the requirement  being                                                              
made  is   that  when  corporations   change  their   articles  of                                                              
incorporation  related to  changing  the quorum,  the majority  of                                                              
the  quorum,   which  would  be   50  percent  plus  one   of  the                                                              
shareholders,  would  have  to  vote  in  the  affirmative.    The                                                              
aforementioned  is  different  than  the  requirements  for  those                                                              
corporations  formed after  1989, which have  an affirmative  vote                                                              
of  50 percent  plus one  of the  shareholders.   In  the case  of                                                              
Doyon, Limited,  he recalled its  quorum numbers were  56 percent,                                                              
and  thus almost  all of  the quorum  would  need to  vote in  the                                                              
affirmative.   He then  turned to  the suggestion  from the  prior                                                              
hearing  that  other  corporations   established  prior  to  1989,                                                              
outside of  Alaska Native  corporations,  should also be  included                                                              
in HB 149.   He opined that it's appropriate to  continue to focus                                                              
on the Alaska Native corporations [established prior to 1989].                                                                  
10:11:21 AM                                                                                                                   
REPRESENTATIVE  HUGHES thanked  the sponsor  for his efforts,  and                                                              
noted her  agreement that Alaska  is in  a unique situation.   She                                                              
then  inquired  as to  the  age at  which  youth are  eligible  to                                                              
become a shareholder.                                                                                                           
REPRESENTATIVE  PRUITT answered  that the  corporations that  have                                                              
specified an  age [at which youth  can become a  shareholder] have                                                              
specified age 18.                                                                                                               
10:11:59 AM                                                                                                                   
REPRESENTATIVE   HUGHES   surmised   then  that   [Alaska   Native                                                              
corporations  established   prior  to   1989]  are  really   in  a                                                              
different  category in  terms  of the  influx  of youth  [becoming                                                              
shareholders],  particularly in  contrast  to corporations  formed                                                              
prior to 1989.   She said she  understood the need for  HB 149 and                                                              
supported moving it forward.                                                                                                    
10:13:15 AM                                                                                                                   
REPRESENTATIVE  SEATON expressed  the desire  for the  spreadsheet                                                              
to be equalized as the legislation moves forward.                                                                               
10:14:01 AM                                                                                                                   
CHAIR  TILTON, noting  that public  testimony had  been closed  at                                                              
the   prior   hearing,   re-opened   public   testimony.      Upon                                                              
determining, no one wished to testify, closed public testimony.                                                                 
10:16:02 AM                                                                                                                   
REPRESENTATIVE  SEATON  remarked  that  HB  149  embodies  a  good                                                              
10:16:17 AM                                                                                                                   
REPRESENTATIVE  SEATON moved  to report  HB 149  out of  committee                                                              
with individual  recommendations and the accompanying  zero fiscal                                                              
notes.   There being no  objection, HB  149 was reported  from the                                                              
House Community and Regional Affairs Standing Committee.                                                                        

Document Name Date/Time Subjects
CSHB 118, Version H.pdf HCRA 3/28/2015 10:00:00 AM
HB 118
HB 149 - Updated Flow Chart 3-27-15.pdf HCRA 3/28/2015 10:00:00 AM
HB 149