This bill proposes amendments to the laws governing the reinstatement of Native village corporations and nonprofit corporations organized for religious purposes in Alaska. It allows Native village corporations that have been involuntarily dissolved to be reinstated at any time, regardless of the previous two-year limitation, provided they meet certain conditions. Specifically, the bill removes the requirement that these corporations must have applied for reinstatement within a specified period and clarifies that they will retain all rights and privileges as if they had not been dissolved. Additionally, if a corporation's name is no longer available, it can amend its articles of incorporation to adopt a new name.

For nonprofit corporations organized for religious purposes, the bill introduces a provision that allows for reinstatement at any time if it can be demonstrated that there was no cause for the dissolution or if the issues leading to the dissolution have been rectified. Similar to the provisions for Native village corporations, reinstatement is contingent upon the corporation correcting any delinquency and paying the necessary fees. The bill also updates the requirements for biennial reports and includes penalties for delinquent filings. 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