S5682 CONGRESSIONAL RECORD — SENATE April 25, 1995

individual shareholders then want to

participate. All three conditions must

be met before any sale of stock is possible.

When the legislation was considered

in the House, an issue arose regarding

that section of the bill that provides

protection from liability to CIRI, its

directors and officers and evaluation

advisors when making an offer to purchase stock. I have reviewed the

amendment and find it acceptable. It

contains the protection needed by

CIRI, and is consistent with the Alaska

Native Claims Settlement Act. The

protections from liability provided in

the language are intended to apply to

all causes of action under any provisions of State or Federal law and are

limited to stock re-purchase offerings

made pursuant to this legislation.

H.R. 421 provides a test case for Native corporation stock distribution.

Senator STEVENS and myself have proposed this bill at the request of CIRI

and the Alaska Federation of Natives.

The other corporations have said they

would like to see how this works in

CIRI’s case before deciding whether

they would like the option extended to

them.

The important thing to remember is

that this legislation has several safeguards to ensure that any stock

repurchases will be conducted fairly—

the biggest safeguard is that the program can’t happen unless approved by

a majority vote of shareholders.

This bill provides a fair alternate

means for distributing corporation

stock while preserving Native control

of the ANCSA corporations.

I have worked with Alaska’s Native

community for the last 15 years and I

am sure that the Native people are

more than capable of making their own

decisions that affect their own corporate affairs. The Alaska Native people should have the same choices that

all other stockholders in America have.

I urge my colleagues to support H.R.

421.

The bill (H.R. 421) was deemed read

three times and passed.

ORDERS FOR WEDNESDAY, APRIL

f26, 1995

Mr. GORTON. Mr. President, I ask

unanimous consent that when the Senate completes its business today it

stand in recess until the hour of 10:30

a.m. on Wednesday, April 26, 1995; that,

following the prayer, the Journal of

proceedings be deemed approved to

date; the time for the two leaders be

reserved for their use later in the day;

and the Senate then immediately resume consideration of H.R. 956, the

product liability bill.

The PRESIDING OFFICER. Without

objection, it is so ordered.

fPROGRAM

Mr. GORTON. Mr. President, for the

information of my colleagues, under

the provisions of the agreement entered earlier, at 5 p.m. tomorrow the

Senate will begin 60 minutes of debate

to be followed by two consecutive rollcall votes. Members should, therefore,

be aware that there will be two stacked

votes at approximately 6 p.m. There

will be no rollcall votes prior to those

votes in order to accommodate Members attending the funeral of Senator

Stennis.

RECESS UNTIL 10:30 A.M.

fTOMORROW

Mr. GORTON. Mr. President, if there

is no further business to come before

the Senate, I now ask that the Senate

stand in recess under the previous

order.

There being no objection, the Senate,

at 8:21 p.m., recessed until tomorrow,

Wednesday, April 26, 1995, at 10:30 a.m.

Executive nominations received by

NOMINATIONS

fthe Senate April 25, 1995:

THE DEPARTMENT OF STATE

MOSINA H. JORDAN, OF NEW YORK, A CAREER MEMBER

OF THE SENIOR FOREIGN SERVICE, CLASS OF MINISTERCOUNSELOR, TO BE AMBASSADOR EXTRAORDINARY AND

PLENIPOTENTIARY OF THE UNITED STATES OF AMERICA

TO THE CENTRAL AFRICAN REPUBLIC.

LANNON WALKER, OF MARYLAND, A CAREER MEMBER

OF THE SENIOR FOREIGN SERVICE, CLASS OF CAREER

MINISTER, TO BE AMBASSADOR EXTRAORDINARY AND

PLENIPOTENTIARY OF THE UNITED STATES OF AMERICA

TO THE REPUBLIC OF COTE D’IVOIRE.

SANDRA J. KRISTOFF, OF VIRGINIA, FOR THE RANK OF

AMBASSADOR DURING HER TENURE OF SERVICE AS U.S.

COORDINATOR FOR ASIA PACIFIC ECONOMIC COOPERATION (APEC).

THE JUDICIARY

TERENCE T. EVANS, OF WISCONSIN, TO BE U.S. CIRCUIT

JUDGE FOR THE SEVENTH CIRCUIT, VICE RICHARD D.

CUDAHY, RETIRED.

WILLIAM A. FLETCHER, OF CALIFORNIA TO BE U.S. CIRCUIT JUDGE FOR THE NINTH CIRCUIT, VICE WILLIAM ALBERT NORRIS, RETIRED.