00Enrolled 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].