00SENATE CS FOR CS FOR HOUSE BILL NO. 471(CRA)                                                                          
01 "An Act relating to the reinstatement of Native corporations; and providing for                                         
02 an effective date."                                                                                                     
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                               
04    * Section 1.  AS 10.06.960(k) is amended to read:                                                                  
05  (k)  Notwithstanding (i) of this section and AS 10.06.633(e), a corporation that                                      
06 is organized as a Native village corporation under the act, that has been involuntarily                                 
07 dissolved by the commissioner under AS 10.06.633, and that has failed to apply for                                      
08 reinstatement during the period established under AS 10.06.633(e) may be reinstated                                     
09 under AS 10.06.633(e)  on or before December 31, 1998  [WITHIN ONE YEAR                                               
10 AFTER AUGUST 7, 1996].  The reinstated corporation and its shareholders have all                                        
11 of the rights, privileges, liabilities, and obligations that would have applied to them if                              
12 the corporation had not been dissolved, and all corporate and shareholder actions taken                                 
13 during the period of dissolution are considered to be as valid as if dissolution had not                                
14 occurred.   If a corporation elects to reinstate under this subsection and if the                                      

01 corporation's previously used corporate name is no longer available for use by the                                      
02 corporation, then, notwithstanding AS 10.06.502 - 10.06.510, an amendment to the                                        
03 articles of incorporation changing the previously used corporate name may be                                            
04 adopted by action of the corporation's board of directors alone.                                                       
05    * Sec. 2.  This Act takes effect immediately under AS 01.10.070(c).