Page:United States Statutes at Large Volume 94 Part 2.djvu/1214

 94 STAT. 2492

PUBLIC LAW 96-487—DEC. 2, 1980

fied in clause (i) or (ii) of subparagraph (B) shall be approved if such amendment receives the affirmative vote of the holders of a majority of the outstanding shares entitled to be voted of the corporation, and "(ii) any amendment to the articles of incorporation of a Native Corporation which would grant voting rights to stockholders who were previously denied such voting rights shall be approved only if such amendment receives, in addition to any affirmative vote otherwise required, a like affirmative vote of the holders of shares entitled to be voted under the provisions of the articles of incorporation.". 43 USC 1607. (b) Section 8(c) of such Act is amended to read as follows: "(c) The provisions concerning stock alienation, annual audit, and transfer of stock ownership on death or by court decree provided for regional corporations in section 7, including the provisions of section 7(h)(3), shall apply to Village Corporations Urban Corporations and Native Groups; except that audits need not be transmitted to the Committee on Interior and Insular Affairs of the House of Representatives or to the Committee on Energy and Natural Resources of the Senate.". 43 USC 1606. (c) At the end of section 1696(h)(l) of title 43, United States Code, insert immediately before the period the words: "or by stockholder who is a member of a professional organization, association, or board which limits the ability of that stockholder to practice his profession because of holding stock issued under this Act". "Native eorpo(d) Section 3 of the Alaska Native Claims Settlement Act is 4l*n«^ 1602. 43 USC 1 fiftQ amended by the addition of a new subsection as follows: "(m) 'Native Corporation' means any Regional Corporation, any Village Corporation, any Urban Corporation, and any Native Group.". SELECTION REQUIREMENTS

SEC. 1402. Subsection (a)(2) of section 12 of the Alaska Native Claims Settlement Act (43 U.S.C. 1611(a)(2)), is amended by adding to the end of that subsection the following: "Provided, That the Secretary in his discretion and upon the request of the concerned Village Corporation, may waive the whole section requirement where— "(A)(i) a portion of available public lands of a section is separated from other available public lands in the same section by lands unavailable for selection or by a meanderable body of water; "(ii) such waiver will not result in small isolated parcels of available public land remaining after conveyance of selected lands to Native Corporations; and "(iii) such waiver would result in a better land ownership pattern or improved land or resource management opportunity; or "(B) the remaining available public lands in the section have been selected and will be conveyed to another Native Corporation under this Act.". RETAINED MINERAL ESTATE

SEC. 1403. Section 12(c) of the Alaska Native Claims Settlement Act (43 U.S.C. 1611(c)) is amended by adding a new paragraph (4) to read as follows:

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