Juneau, Alaska – The Alaska House of Representatives Thursday voted to bring Alaska Native Corporations’ rules up to date.

House Bill 149, by Representative Lance Pruitt, gives Alaska Native Corporations that were incorporated prior to July 1, 1989 the option to amend their articles of incorporation, reducing the quorum requirements for a meeting of shareholders to one-third of the outstanding shares entitled to vote at a meeting, represented in person or by proxy.

“A shift is taking place with the increase in shareholders; members are newer, younger and more geographically dispersed,” Pruitt, R-Anchorage, said. “Corporations have found it increasingly challenging to reach the required quorum to hold their annual shareholder meeting.

“Our native corporations are unique to Alaska and they face unique challenges,” Pruitt said. “This bill will take into account these challenges and give shareholders the option to change their quorum requirements.”

HB 149 passed the House on a vote of 31-5, and now moves to the Alaska Senate for consideration.

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