| 1 | 1 | | |
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| 2 | 2 | | HB0126a -1- HB 126 |
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| 3 | 3 | | New Text Underlined [DELETED TEXT BRACKETED] |
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| 5 | 5 | | 34-LS0099\N |
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| 11 | 11 | | HOUSE BILL NO. 126 |
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| 12 | 12 | | |
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| 13 | 13 | | IN THE LEGISLATURE OF THE STATE OF ALASKA |
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| 14 | 14 | | |
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| 15 | 15 | | THIRTY-FOURTH LEGISLATURE - FIRST SESSION |
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| 16 | 16 | | |
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| 17 | 17 | | BY REPRESENTATIVE FOSTER |
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| 18 | 18 | | |
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| 19 | 19 | | Introduced: 3/5/25 |
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| 20 | 20 | | Referred: House Special Committee on Tribal Affairs, Community and Regional Affairs |
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| 22 | 22 | | |
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| 23 | 23 | | A BILL |
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| 24 | 24 | | |
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| 25 | 25 | | FOR AN ACT ENTITLED |
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| 26 | 26 | | |
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| 27 | 27 | | "An Act relating to the reinstatement of Native corporations; and providing for an 1 |
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| 28 | 28 | | effective date." 2 |
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| 29 | 29 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 3 |
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| 30 | 30 | | * Section 1. AS 10.06.960(k) is amended to read: 4 |
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| 31 | 31 | | (k) Notwithstanding (i) of this section and AS 10.06.633(e), a corporation that 5 |
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| 32 | 32 | | is organized as a Native village corporation under the Act, that has been involuntarily 6 |
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| 33 | 33 | | dissolved by the commissioner under AS 10.06.633, and that has failed to apply for 7 |
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| 34 | 34 | | reinstatement during the period established under AS 10.06.633(e) may be reinstated 8 |
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| 35 | 35 | | under AS 10.06.633(e) on or before December 31, 2026 [2020]. The reinstated |
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| 36 | 36 | | 9 |
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| 37 | 37 | | corporation and its shareholders have all of the rights, privileges, liabilities, and 10 |
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| 38 | 38 | | obligations that would have applied to them if the corporation had not been dissolved, 11 |
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| 39 | 39 | | and all corporate and shareholder actions taken during the period of dissolution are 12 |
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| 40 | 40 | | considered to be as valid as if dissolution had not occurred. If a corporation elects to 13 |
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| 41 | 41 | | reinstate under this subsection and if the corporation's previously used corporate name 14 34-LS0099\N |
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| 42 | 42 | | HB 126 -2- HB0126a |
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| 43 | 43 | | New Text Underlined [DELETED TEXT BRACKETED] |
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| 44 | 44 | | |
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| 45 | 45 | | is no longer available for use by the corporation, then, notwithstanding AS 10.06.502 - 1 |
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| 46 | 46 | | 10.06.510, an amendment to the articles of incorporation changing the previously used 2 |
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| 47 | 47 | | corporate name may be adopted by action of the corporation's board of directors alone. 3 |
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| 48 | 48 | | * Sec. 2. This Act takes effect immediately under AS 01.10.070(c). 4 |
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