This bill proposes amendments to existing laws regarding the reinstatement of Native village corporations, nonprofit corporations organized for religious purposes, and other corporations 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. Additionally, it establishes that corporations organized for religious purposes can also be reinstated at any time if they can demonstrate that there was no cause for their dissolution or if they have corrected the issues that led to their dissolution, along with the payment of any outstanding dues.

The bill also includes provisions for the biennial reporting requirements for domestic and foreign corporations, specifying that delinquent reports will incur penalties as outlined in the amended law. Furthermore, it allows for the reinstatement of dissolved corporations under certain conditions, including the necessity to amend their articles of incorporation if their original name is no longer available. The bill 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