HB 392 AM: "An Act relating to the reinstatement of dissolved Native village corporations, and to the affirmative vote necessary to amend the articles of incorporation of Native village corporations to authorize the classification of directors."
00HOUSE BILL NO. 392 am 01 "An Act relating to the reinstatement of dissolved Native village corporations, and 02 to the affirmative vote necessary to amend the articles of incorporation of Native 03 village corporations to authorize the classification of directors." 04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 05 * Section 1. AS 10.06.960 is amended by adding a new subsection to read: 06 (l) Notwithstanding (i) of this section and AS 10.06.633(e), a corporation that 07 is organized as a Native village corporation under the act, that has been involuntarily 08 dissolved by the commissioner under AS 10.06.633, and that has failed to apply for 09 reinstatement during the period established under AS 10.06.633(e) may be reinstated 10 under AS 10.06.633(e) within one year after the effective date of this Act. The 11 reinstated corporation and its shareholders have all of the rights, privileges, liabilities, 12 and obligations that would have applied to them if the corporation had not been 13 dissolved, and all corporate and shareholder actions taken during the period of 14 dissolution are considered to be as valid as if dissolution had not occurred.
01 * Sec. 2. Section 10, ch. 166, SLA 1988, as amended by sec. 57, ch. 50, SLA 1989, is 02 amended by adding a new subsection to read: 03 (d) Notwithstanding (a) of this section and AS 10.06.455(b), an amendment 04 to the articles of incorporation of a village corporation organized under 43 U.S.C. 1601 05 - 1629e (Alaska Native Claims Settlement Act) and incorporated under former 06 AS 10.05.005 to add a provision authorizing the classification of directors under 07 AS 10.06.455 may be adopted by the affirmative vote of a majority of the shares 08 represented at a regular or special meeting at which a quorum is present in person or 09 by proxy.