(a) The institute may conduct an election under this section after the director of elections approves
(1) the notice to be published by the institute;
(2) the ballot to be used in the election; and
(3) the registration and voting procedures for the approval or termination of the seafood marketing assessment.
(b) In conducting the election under this section, the institute and the director of elections shall adopt the following procedures:
(1) the proposed levy or termination of the assessment shall be adopted at a regularly scheduled meeting of the board of directors of the institute held not less than 60 days before the date on which the ballots must be postmarked to be counted unless the election is for termination of the assessment and has been initiated by a petition under AS 16.51.130(b)(2);
(2) the institute shall hold at least one meeting, not less than 30 days before the date on which ballots must be postmarked to be counted, to explain the reason for the proposed seafood marketing assessment or termination of the assessment and to explain the voting procedure to be used in the election; the institute shall provide notice of the meeting by
(A) mailing the notice to each eligible processor; and
(B) publishing the notice in at least one newspaper of general circulation in each region of the state at least two weeks before the meeting;
(3) the director of elections shall mail ballots to each eligible processor not more than 45 days before the date specified as the date ballots must be postmarked;
(4) the ballot must
(A) indicate whether the assessment is to be levied under AS 16.51.120(b), (c), (d), (e), (h), or (i) and must state the percentage of the assessment;
(B) indicate the effective date of the levy of the assessment or termination of the assessment;
(C) ask whether the assessment shall be levied or, if the election is to terminate the assessment, whether the assessment shall be terminated;
(5) the ballots shall be returned by mail to the director of elections and shall be counted by the director of elections or a representative.
(c) The director of elections shall certify the results of an election under this section if the director determines that the requirements of (a) and (b) of this section have been satisfied.
(d) For the purposes of this section a ballot submitted by a corporation is presumed valid if the ballot is signed by an individual who is indicated to be an officer of the corporation and the ballot is imprinted with the corporate seal.