S. 1495 · 115th Congress
ANCSA Fractional Shares Consolidation Act of 2017
- Stage
- In committee
- Sponsor
- Lisa Murkowski
- Introduced
- 2017-06-29
- Latest action
- 2017-06-29 · Introduced in Senate
Summary
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.