00 Enrolled SB 14 01 Relating to the term of office of directors of telephone or electric cooperatives. 02 _______________ 03 * Section 1. AS 10.25.160 is amended to read: 04 Sec. 10.25.160. Staggered terms of office for directors. Instead of electing 05 all directors annually, the bylaws may provide that directors shall be elected for terms 06 not to exceed four [THREE] years, or until their successors are elected and qualify, 07 and that the terms of directors shall be staggered so that not all terms expire at the 08 same time [ONE-THIRD OF THE DIRECTORS, OR A NUMBER AS CLOSE TO 09 ONE-THIRD AS POSSIBLE, SHALL BE ELECTED EACH YEAR].