HB126 allows Native village corporations involuntarily dissolved by the commissioner to apply for reinstatement by December 31, 2026.

HB126 amends Alaska law to allow Native village corporations that were involuntarily dissolved by the commissioner to apply for reinstatement by December 31, 2026. If reinstated, the corporation and its shareholders regain all rights, privileges, liabilities, and obligations as if the corporation had not been dissolved. Additionally, any actions taken by the corporation or shareholders during the period of dissolution are considered valid. The bill also allows for a change in the corporation's name by the board of directors if the original name is no longer available.

HB126 allows Native village corporations involuntarily dissolved by the commissioner to apply for reinstatement by December 31, 2026.

HB126 amends Alaska law to allow Native village corporations that were involuntarily dissolved by the commissioner to apply for reinstatement by December 31, 2026. If reinstated, the corporation and its shareholders regain all rights, privileges, liabilities, and obligations as if the corporation had not been dissolved. Additionally, any actions taken by the corporation or shareholders during the period of dissolution are considered valid. The bill also allows for a change in the corporation's name by the board of directors if the original name is no longer available.