ANCSA Fractional Shares Consolidation Act of 2017
This bill amends the Alaska Native Claims Settlement Act to allow Alaska Native regional corporations to issue a full share of any class of stock, for no consideration, in exchange for a fractional share of the same class of stock, held by any shareholder, as long as the corporation exchanges all fractional shares of a class of stock for full shares at the same time.
After converting fractional shares of stock to full shares, a corporation may adopt a policy that provides for the elimination of fractional shares.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.