IACA incorporated in Louisiana
IACA was organized and incorporated in Louisiana. Initially, the name of the organization was the National Association of State Corporation Administrators (NASCA) and included only the corporation directors of the United States.
The scope of the organization was extended to include the Uniform Commercial Code (UCC) directors. At that time, the name of the organization was changed to the International Association of Corporation Administrators to reflect the inclusion of international members from Canada, Great Britain and affiliate relationships with Australia and Trust Territories jurisdictions.
The scope of the organization was again expanded to provide membership to the information technology managers who support the Corporation and UCC functions in each jurisdiction.
The existing standing committee structure was replaced by three functional sections with open membership to: BOS Business Organization Section STS Secured Transactions Section ITS Information Technology Section
The International Relations Section was added.
The articles of incorporation were restated changing the name to the International Association of Commercial Administrators (IACA) and allowing international participants to become associate members.
The Articles of Incorporation and Bylaws were amended to:
- Eliminate the right to vote by proxy on all matters except where the action would adversely affect a member’s interest;
- Authorize associate (international) members to vote on matters before the International Relations Section;
- Change the reference from the Executive Board to Board of Directors;
- Eliminate the right to notice of the annual meeting;
- Increase the board of directors by four (4) to include the section chairs; and
- Add a Committee on Corporate Governance.
The By-Laws were amended to allow for international jurisdictions (outside U.S. or Canada) to become members, instead of individuals.