00                      CS FOR HOUSE BILL NO. 126(TRB)                                                                    
01 "An Act relating to the reinstatement of Native village 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 the requirement provided under                                         
06 AS 10.06.633(e) that a corporation may only be reinstated within two years from                                     
07 the date of the certificate of involuntary dissolution, a corporation that is organized                             
08 as a Native village corporation under the Act and [,] that has been involuntarily                                   
09 dissolved by the commissioner under AS 10.06.633 [, AND THAT HAS FAILED TO                                              
10 APPLY FOR REINSTATEMENT DURING THE PERIOD ESTABLISHED UNDER                                                             
11 AS 10.06.633(e)] may be reinstated under AS 10.06.633(e) at any time [ON OR                                         
12 BEFORE DECEMBER 31, 2020]. The reinstated corporation and its shareholders                                              
13 have all of the rights, privileges, liabilities, and obligations that would have applied to                             
14 them if the corporation had not been dissolved, and all corporate and shareholder                                       

01 actions taken during the period of dissolution are considered to be as valid as if                                      
02 dissolution had not occurred. If a corporation elects to reinstate under this subsection                                
03 and if the corporation's previously used corporate name is no longer available for use                                  
04 by the corporation, then, notwithstanding AS 10.06.502 - 10.06.510, an amendment to                                     
05 the articles of incorporation changing the previously used corporate name may be                                        
06       adopted by action of the corporation's board of directors alone.                                                  
07    * Sec. 2. This Act takes effect immediately under AS 01.10.070(c).