This bill proposes amendments to existing laws regarding the reinstatement of Native village corporations, nonprofit corporations organized for religious purposes, and other corporate entities in Alaska. Notably, it allows Native village corporations that have been involuntarily dissolved to be reinstated at any time, removing the previous two-year limitation for reinstatement. The bill also clarifies that these corporations will retain all rights and privileges as if they had never been dissolved, and it allows for name changes if the original name is no longer available. Additionally, it introduces provisions for the reinstatement of religious corporations under specific conditions, including the correction of any issues that led to dissolution and the payment of outstanding dues.

Furthermore, the bill amends the requirements for biennial reports for corporations, establishing penalties for late submissions, and it includes similar reinstatement provisions for other types of corporations that have been dissolved. The reinstatement process is contingent upon demonstrating that there was no cause for dissolution or that any issues have been rectified. The bill emphasizes that reinstated corporations are still liable for any penalties or taxes that accrue after their dissolution. The act is set to take effect immediately upon passage.

Statutes affected:
HB0126A, AM HB 126, introduced 03/05/2025: 10.06.960
HB0126B, AM CSHB 126(TRB), introduced 05/02/2025: 10.06.960
HB0126C, AM CSHB 126(TRB) am, introduced 05/18/2025: 10.06.960, 10.06.633, 10.06.502, 10.06.510, 10.20.325, 10.20.021, 10.20.630, 10.40.150