S.1495 - ANCSA Fractional Shares Consolidation Act of 2017115th Congress (2017-2018) |
|Sponsor:||Sen. Murkowski, Lisa [R-AK] (Introduced 06/29/2017)|
|Committees:||Senate - Energy and Natural Resources|
|Latest Action:||Senate - 06/29/2017 Read twice and referred to the Committee on Energy and Natural Resources. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed Senate
- Passed House
- To President
- Became Law
Summary: S.1495 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in Senate (06/29/2017)
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.