00                            HOUSE BILL NO. 244                                                                          
01 "An Act providing that for-profit corporations and limited liability companies                                          
02 organized in this state are not persons for purposes of influencing the outcomes of public                              
03 office elections, initiatives, referendums, or recalls."                                                                
04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
05    * Section 1. AS 06.05.301(b) is amended to read:                                                                   
06            (b)  The provisions of AS 10.06 (Alaska Corporations Code) apply to state                                    
07       banks, except those provisions inconsistent with this chapter. The provisions                                     
08       inconsistent with this chapter include AS 10.06.010(a)(4) - (8) [AS 10.06.010(4) -                            
09       (8)], 10.06.105(a) and (d), 10.06.325, 10.06.356, 10.06.358 - 10.06.360, 10.06.370,                               
10       10.06.385 - 10.06.388, 10.06.420(i), 10.06.430, 10.06.453, 10.06.460(b), 10.06.485,                               
11       10.06.522 - 10.06.868, 10.06.915, 10.06.960, and 10.06.990(31) and (37).                                          
12    * Sec. 2. AS 10.06.010 is amended by adding a new subsection to read:                                              
13            (b)  Notwithstanding (a) of this section or another provision of this chapter to                             
14       the contrary, a corporation organized under this chapter is not considered a person for                           

01       the purpose of influencing the outcome of                                                                         
02                 (1)  an election for public office; or                                                                  
03                 (2)  an initiative, a referendum, or a recall.                                                          
04    * Sec. 3. AS 10.50 is amended by adding a new section to read:                                                     
05            Sec. 10.50.920. Public office elections. Notwithstanding another provision of                              
06       this chapter to the contrary, a limited liability company organized under this chapter is                         
07       not considered a person for the purpose of influencing the outcome of                                             
08                 (1)  an election for public office; or                                                                  
09                 (2)  an initiative, a referendum, or a recall.