Legislature(2021 - 2022)BELTZ 105 (TSBldg)
02/08/2021 01:30 PM Senate LABOR & COMMERCE
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| Audio | Topic |
|---|---|
| Start | |
| SB10 | |
| SB24 | |
| Adjourn |
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
| + | SB 56 | TELECONFERENCED | |
| *+ | SB 10 | TELECONFERENCED | |
| + | TELECONFERENCED | ||
| *+ | SB 24 | TELECONFERENCED | |
SB 24-VIRTUAL MEETINGS FOR CORPORATIONS
2:43:31 PM
CHAIR COSTELLO reconvened the meeting and announced the
consideration of SENATE BILL NO. 24, "An Act authorizing virtual
meetings of shareholders of a corporation; and authorizing
virtual meetings of members of a nonprofit corporation."
CHAIR COSTELLO advised that her intention was to hear the
introduction, take and close public testimony, and hold the bill
for future consideration and possible amendments from the bill
sponsor.
2:44:12 PM
SENATOR DAVID WILSON, Alaska State Legislature, Juneau, Alaska,
sponsor of SB 24, introduced the legislation loosely
paraphrasing the following sponsor statement:
The events of this past year have caused many
hardships but have also inspired innovation. It is
imperative that we use this innovation to improve our
operations and laws in the future. Senate Bill 24
capitalizes on one such of these innovations.
Senate Bill 24 allows corporations' shareholder
meetings and nonprofit member meetings to be held
electronically. Section 12 of SB 241 of the 31st
Legislature and subsequent emergency orders have
allowed for these electronic meetings, but that
authorization will eventually expire. The ability to
meet electronically, as would be permanently allowed
by the passage of this bill, has proved invaluable to
these organizations. Senate Bill 24 enables
corporations and nonprofit organizations to operate
more efficiently and with greater flexibility than in
the past.
For these reasons I urge a swift passage of this bill.
Thank you for your consideration of this important
legislation.
SENATOR WILSON advised that the forthcoming amendments were to
ensure that the bill was sufficiently inclusive to give all
businesses and corporations in Alaska the option to conduct
meetings electronically.
2:46:00 PM
JASMIN MARTIN, Staff, Senator David Wilson, Alaska State
Legislature, Juneau, Alaska, delivered the following sectional
analysis for SB 24.
Senate Bill 24
Sectional Summary V.A
Section 1: Amends AS 10.06.405(a) to allow for the
changes made in section 2.
Section 2: Amends AS 10.06.405 to add a section (e),
which allows shareholders in for profit corporations
to meet electronically as allowed in the
organizations' by-laws.
Section 3: Amends AS 10.20.061(a) to allow for the
changes made in section 2.
Section 4: Amends AS 10.21.061 to add a section (d),
which allows members of a nonprofit organization to
meet electronically as allowed in the organizations'
by-laws.
Section 5: Adds a section to the uncodified law of
Alaska allowing corporations that plan to distribute
or have distributed a proxy statement or notice of
annual meeting at the time this bill passes to notice
or renotice the annual meeting so it may be held
electronically.
2:47:39 PM
CHAIR COSTELLO asked if this legislation was similar to a
particular section of Governor Dunleavy's disaster declaration,
SB 56.
MS. MARTIN answered yes; it was modeled on the disaster
declarations but the bill added clarification.
CHAIR COSTELLO listed those available online to answer
questions.
2:48:45 PM
CHAIR COSTELLO opened invited testimony.
2:50:00 PM
At ease due to technical difficulties.
2:50:50 PM
CHAIR COSTELLO reconvened the meeting. [The technical
difficulties continued.]
CHAIR COSTELLO advised that public testimony on SB 24 would
remain open.
2:52:01 PM
SENATOR GRAY-JACKSON asked if businesses and corporations were
already meeting virtually because of COVID-19.
SENATOR WILSON replied that without an extension of the disaster
declaration that ability would end on February 14, 2021. SB 24
would allow virtual meetings in perpetuity.
2:52:47 PM
SENATOR GRAY-JACKSON shared that she was unaware that this was
in statute.
CHAIR COSTELLO said she appreciated that this placed in statute
one of the emergency powers authorized during the emergency
disaster that worked and made conducting business easier.
2:54:02 PM
CHAIR COSTELLO held SB 24 in committee.