HB 410: "An Act relating to the reinstatement of Native corporations; and providing for an effective date."
00 HOUSE BILL NO. 410 01 "An Act relating to the reinstatement of Native corporations; and providing for an 02 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, 2020 . The reinstated 10 corporation and its shareholders have all of the rights, privileges, liabilities, and 11 obligations that would have applied to them if the corporation had not been dissolved, 12 and all corporate and shareholder actions taken during the period of dissolution are 13 considered to be as valid as if dissolution had not occurred. If a corporation elects to 14 reinstate under this subsection and if the corporation's previously used corporate name 15 is no longer available for use by the corporation, then, notwithstanding AS 10.06.502 -
01 10.06.510, an amendment to the articles of incorporation changing the previously used 02 corporate name may be adopted by action of the corporation's board of directors alone. 03 * Sec. 2. This Act takes effect immediately under AS 01.10.070(c).