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Tobolar Copra Processing Authority (Amendment) Act 2010

NITIJELA OF THE REPUBLIC OF THE MARSHALL ISLANDS

31^ST CONSTITUTIONAL REGULAR SESSION, 2010

BILL NO: 70

P.L. 2010 – 42

TOBOLAR COPRA PROCESSING AUTHORITY (AMENDMENT) 2010

AN ACT

to amend Sections 1305 and 1305 of the Tobolar Copra Processing Authority Act, as amended, in order to increase the number of Board of Directors from five (5) to seven (7) and quorum from (3) to (4).

BE IT ENACTED BY THE NITIJELA OF THE REPUBLIC OF THE MARSHALL ISLANDS:

Section 1. Short Title.

This Act may be cited as the Tobolar Copra Processing Authority (Amendment), 2010.

Section 2. Amendments.

(1) Section 1305 of the Tobolar Copra Processing Authority Act is amended to read as follows:

§1305. The Board of Directors.

(1) There shall be a Board of Directors consisting of seven (7) members appointed by Cabinet.

(2) The Board may elect a Chairman from among its members.

(3) The Board may delegate any or all of its powers and duties to the Chairman.

(4) The term of office for members appointed under subsection (1) shall be two years.

(5) The Board may act notwithstanding any vacancy in membership, provided that there is a quorum in accordance with this chapter.

(2) Section 1306 of the Tobolar Copra Processing Authority Act is amended to read as follows:

§1306. Meetings of the Board.

(1) The Board shall meet at such times and places as may be designated by the Chairman provided that the Board shall meet at least once every quarter.

(2) The Board shall adopt its own rules of procedure for transaction of business and the carrying out of the purposes of this Chapter.

(3) The quorum for a meeting of the Board shall be four (4) members.

Section 3: Effective date

This Act shall take effect on the date of certification in accordance with the Constitution and the Rules of Procedure of the Nitijela.

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