109 STAT. 156
PUBLIC LAW 104-10—MAY 18, 1995
Regional Corporation, that reflects the value of the nonresident
distribution rights; or
"(ii) non-village shares without the nonresident distribution
rights associated with the shares.
"(F) Any shareholder who accepts an offer made by the board
of directors pursuant to subparagraph (E)(ii) shall receive, with
respect to each non-village share sold by the shareholder to the
Cook Inlet Regional Corporation—
"(i) the consideration for a share of Settlement Common
Stock offered to shareholders of village shares; and
"(ii) a security for only the nonresident rights that attach
to such share that does not have attached voting rights (referred
to in this paragraph as a 'non-voting security').
"(G) An amendment made pursuant to subparagraph (B) shall
authorize the issuance of a non-voting security that—
"(i) shall, for purposes of subsections (j) and (m), be treated
as a non-village share with respect to—
"(I) computing distributions under such subsections;
and
"(II) entitling the holder of the share to the proportional
share of the distributions made under such subsections;
"(ii) may be sold to Cook Inlet Region, Inc.; and
"(iii) shall otherwise be subject to the restrictions under
paragraph (1)(B).
"(H) Any shares of Settlement Common Stock purchased pursuant to this paragraph shall be canceled on the conditions that—
"(i) non-village shares with the nonresident rights that
attach to such shares that are purchased pursuant to this
paragraph shall be considered to be—
"(I) outstanding shares; and
"(II) for the purposes of subsection (m), shares of stock
registered on the books of the Cook Inlet Regional Corporation in the names of nonresidents of villages;
"(ii) any amount of funds that would be distributable with
respect to non-village shares or non-voting securities pursuant
to subsection (j) or (m) shall be distributed by Cook Inlet
Regional Corporation to itself; and
"(iii) village shares that are purchased pursuant to this
paragraph shall be considered to be—
"(I) outstanding shares, and
"(II) for the purposes of subsection (k) shares of stock
registered on the books of the Cook Inlet Regional Corporation in the names of the residents of villages.
"(I) Any offer to purchase Settlement Common Stock made
pursuant to this paragraph shall exclude from the offer—
"(i) any share of Settlement Common Stock held, at the
time the offer is made, by an officer (including a member
of the board of directors) of Cook Inlet Regional Corporation
or a member of the immediate family of the officer; and
"(ii) any share of Settlement Common Stock held by any
custodian, guardian, trustee, or attorney representing a shareholder of Cook Inlet Regional Corporation in fact or law, or
any other similar person, entity, or representative.
"(J)(i) The board of directors of Cook Inlet Regional Corporation,
in determining the terms of an offer to purchase made under
this paragraph, including the amount of any premium paid with
�
