Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal
On August 17, 2016, the Board of Directors of Avista Corporation (Avista Corp.
or the Company) amended Article II of the Company's Bylaws to include a new
Section 12 providing for "proxy access" to the Company's shareholders. As
amended, the Company's Bylaws now permit a shareholder, or a group of not more
than 20 shareholders, that continuously owned at least 3 percent of the
Company's outstanding common stock for three years, to include a nominee for
election as a director in the Company's proxy soliciting materials, with a
maximum number of directors equal to 20 percent of the number of directors on
the board, all subject to certain conditions and limitations. A complete copy of
the Bylaws of Avista Corp., as amended August 17, 2016, is filed as Exhibit 3.2.
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