00                           HOUSE BILL NO. 149 am                                                                        
01 "An Act relating to an amendment of the articles of incorporation of certain Native                                     
02 corporations to establish a lower quorum requirement for shareholder meetings."                                         
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1. AS 10.06.960 is amended by adding a new subsection to read:                                           
05            (q)  Notwithstanding AS 10.06.504(d), a Native corporation incorporated                                      
06       under former AS 10.05 before July 1, 1989, may amend its articles under this                                      
07       subsection to reduce the quorum necessary to hold a meeting of shareholders to one-                               
08       third of the outstanding shares entitled to vote at a meeting, represented in person or                           
09       by proxy. An amendment under this subsection is approved if it receives an                                        
10       affirmative vote of two-thirds of the shares represented in person or by proxy at an                              
11       annual meeting.  The Native corporation may not use the reduced quorum established                                
12       under this subsection to adopt other amendments of the articles or to adopt resolutions                           
13       to which 43 U.S.C. 1629b applies. AS 10.06.504(d) continues to apply to the adoption                              
14       of other amendments of the articles.