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"A comprehensive, collaborative elections resource."
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Shareholders Ponder North Dakota Law
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| Contributor | Jason |
| Last Edited | Jason Dec 08, 2008 04:28pm |
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| Category | News |
| Media | Newspaper - Wall Street Journal |
| News Date | Monday, December 8, 2008 10:00:00 PM UTC0:0 |
| Description | A new front in the battle over corporate governance is emerging in an unlikely place: North Dakota.
Only two publicly traded companies are incorporated in North Dakota. But last year lawmakers there -- prodded by out-of-state activists including Carl Icahn -- enacted the nation's most shareholder-friendly corporate-governance law.
The law prescribes rules that companies incorporating in North Dakota can adopt as a package, including requiring an annual shareholder advisory vote on executive pay and the naming of a chairman who isn't an executive. The rules also provide for the annual election of directors and make it easier for shareholders to nominate their own director candidates. |
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