Americans Elect Corporate Bylaws tucked into Nevada Transparency Site
Americans Elect is both a corporation and a political party that has been working since April of this year to put its own presidential ticket on the ballot in 2012. Thanks to the transparency laws of the state of Nevada, which requires the posting of corporate bylaws for any group trying to form a political party, the corporate bylaws of Americans Elect are available for review as posted on September 13, 2010 after Americans Elect achieved political party status in the state.
These bylaws reveal, among other things, that:
- The Americans Elect corporation has no members; all rights and powers are held by a Board of Directors.
- There are three directors, who have been identified elsewhere as Peter Ackerman, Kahlil Byrd and Thomas Richardson.
- Officers of the corporation: President, Secretary and Treasurer.
- According to bylaws, “The Directors of the Corporation shall serve without compensation for services rendered by them in their capacities as Directors.” Director Kahlil Byrd is being paid by Americans Elect, possibly for services unrelated to his identity as a director.
- Americans Elect bylaws require periodic reviews to determine whether compensation and contracting resulted from arm’s length bargaining or are a means of the “private benefit” of Americans Elect directors or administrators. The board of directors itself is the final arbiter or this review.
- The corporation/political party has a nominal conflict of interest clause, but the clause states that conflict of interest by the board of directors does not exist unless the board of directors agrees it does.