VETO
An Act
Legislative Act 35 -02
Title
AN ACT AMENDING THE CHEROKEE NATION GENERAL CORPORATION
ACT CREATING AND ADVISORY BOARD OF DIRECTORS AND SETTING
TERM LIMITS ON DIRECTORS ON CORPORATIONS IN WHICH THE
CHEROKEE NATION IS A MAJORITY SHAREHOLDER
Body
BE IT ENTITLED BY THE CHEROKEE NATION:
Section 1. Title.
This Act shall be known as the Cherokee Corporation Advisory Board Act and shall be codified in Title 18 of the Cherokee Code Annotated.
Section 2. Purpose.
The purpose of this Act is to amend Legislative Act 16-19 to provide an advisory board of tribal council members to all corporation Board of Directors in which the Cherokee Nation is a majority stockholder and provide term limits for the Board of Directors.
Section 3. Legislative History.
A. Cherokee Nation General Corporation Act Legislative Act-1-1-85 as
amended in LA 16-96, LA 15-96.
B. Article V ? 7 of the Cherokee Nation Constitution.
Section 4. Substantive Provisions.
A. Add new Section "I" to Article 5 Section 27 of the Cherokee Nation
General Corporation Act, which shall state, "There shall be an advisory board of directors to all corporations in which the Cherokee Nation is a majority shareholder. This advisory board shall consist of three (3) members of the Cherokee Nation Tribal Council. The Tribal Council shall appoint these members in accordance with their rules and procedures. The advisory board shall have full access to all information and meetings of the Board of Directors and have all privileges of the Board of Directors except voting privileges.
B. Add new language to Article V Section 27(B) "Provided, that a Director
shall not serve more than four (4) consecutive years without confirmation by the Tribal Council to a corporation whose majority shareholder is the Cherokee Nation.
Section 5. Severability.
The provisions of this Act are severable and if any part of provision hereof shall be held void or invalid by a court of competent jurisdiction the dec...
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