{"id":13168,"date":"2013-03-06T11:23:56","date_gmt":"2013-03-06T17:23:56","guid":{"rendered":"http:\/\/stateimpact.npr.org\/oklahoma\/?p=13168"},"modified":"2013-03-06T12:19:29","modified_gmt":"2013-03-06T18:19:29","slug":"first-bill-signed-into-law-in-2013-undoes-a-law-chesapeake-energy-helped-write","status":"publish","type":"post","link":"https:\/\/stateimpact.npr.org\/oklahoma\/2013\/03\/06\/first-bill-signed-into-law-in-2013-undoes-a-law-chesapeake-energy-helped-write\/","title":{"rendered":"First Bill Signed Into Law in 2013 Undoes a Law Chesapeake Energy Helped Write"},"content":{"rendered":"<div id=\"attachment_13173\"  class=\"wp-caption module image right\" style=\"max-width: 300px;\"><a class=\"fancybox\" title=\"Gov. Mary Fallin, about to give her State of the State Address in 2013. \" href=\"http:\/\/stateimpact.npr.org\/oklahoma\/files\/2013\/03\/fallin-sots.jpg\" rel=\"\"><img decoding=\"async\" loading=\"lazy\" class=\"size-medium wp-image-13173\" title=\"Gov. Mary Fallin\" src=\"http:\/\/stateimpact.npr.org\/oklahoma\/files\/2013\/03\/fallin-sots-300x199.jpg\" alt=\"\" width=\"300\" height=\"199\" \/><\/a><\/p>\n<p class=\"wp-media-credit\">Joe Wertz \/ StateImpact Oklahoma<\/p>\n<p class=\"wp-caption-text\">Gov. Mary Fallin at her state of the state address in 2013.<\/p>\n<\/div><p>Chesapeake Energy has been pushing for a new law to undo a previous <a href=\"http:\/\/stateimpact.npr.org\/oklahoma\/2012\/06\/08\/declassified-chesapeake-wants-relief-from-an-oklahoma-law-it-helped-write\/\">law the company helped write<\/a>.<\/p><p>On Tuesday, the new law was signed by Gov. Mary Fallin \u2014 the first bill signed by the Governor during the 2013 legislative session.<\/p><p>House Bill 1646, authored by Rep. Fred Jordan, R-Jenks, <a href=\"http:\/\/stateimpact.npr.org\/oklahoma\/2013\/01\/22\/state-legislation-filed-to-change-chesapeake-corporate-governance-law\/\">reverses<\/a> 2010 legislation that mandated staggered elections of directors of certain public corporations. Chesapeake helped write the 2010 law, which required a style of corporate governance that guarded against boardroom takeovers.<\/p><p>The 2010 law didn\u2019t prevent a <a href=\"http:\/\/stateimpact.npr.org\/oklahoma\/2012\/06\/22\/four-things-you-should-know-about-chesapeakes-new-chairman-and-board\/\">boardroom shakeup<\/a> at the Oklahoma City company. Shareholders demanded annual elections (which is what most of Chesapeake\u2019s corporate peers have) and the company\u2019s new directors sought a reversal of the law. Chesapeake threatened to reincorporate in Deleware if the law wasn\u2019t changed.<\/p><p><!--more-->Chesapeake representatives didn\u2019t respond to StateImpact\u2019s request for comment.<\/p><p>A spokesman said the Governor was happy to sign a bill that simplified corporate governance in Oklahoma.<\/p><p>\u201cIt\u2019s an important bill for the business community and makes Oklahoma a more business-friendly state,\u201d says spokesman Alex Weintz.<\/p><p>&nbsp;<\/p><p>The 2010 law had unintended consequences. The corporate structures at two other companies \u2014 ONEOK and OG&E \u2014 were unintentionally affected, a situation that had to be remedied last year with a legislative fix.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chesapeake Energy has been pushing for a new law to undo a previous law the company helped write.On Tuesday, the new law was signed by Gov. Mary Fallin \u2014 the first bill signed by the Governor during the 2013 legislative session.House Bill 1646, authored by Rep. Fred Jordan, R-Jenks, reverses 2010 legislation that mandated staggered [&hellip;]<\/p>\n","protected":false},"author":36,"featured_media":13173,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[490],"tags":[275,238],"acf":[],"_links":{"self":[{"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/posts\/13168"}],"collection":[{"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/comments?post=13168"}],"version-history":[{"count":1,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/posts\/13168\/revisions"}],"predecessor-version":[{"id":13175,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/posts\/13168\/revisions\/13175"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/media\/13173"}],"wp:attachment":[{"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/media?parent=13168"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/categories?post=13168"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/tags?post=13168"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}