AlaskaAlaska law allows reinstatement of dissolved Native village corporations
The law allows the state to reinstate certain dissolved Native village corporations at any time and requires copies of some shareholder materials to be filed with the state.
What it does
The state may reinstate a Native village corporation involuntarily dissolved by the commissioner at any time. The corporation and its shareholders regain the rights and duties they would have had without the dissolution.
Anyone sharing certain reports or proxy materials with at least 30 Alaska residents who own shares in a qualifying Alaska Native corporation must file copies with the state.
Argument forReinstatement could let a dissolved Native village corporation regain its status and treat actions taken during dissolution as valid.
Argument againstFiling copies when materials go to 30 or more Alaska shareholders could add work for people who share those materials.
More detail
The state may reinstate a qualifying Native village corporation at any time. This provision covers Native village corporations involuntarily dissolved by the commissioner. The corporation must have been organized as a Native village corporation and involuntarily dissolved by the commissioner under state law. After reinstatement, the corporation and its shareholders have the rights, duties, and liabilities they would have had without the dissolution; actions taken during dissolution count as valid. If the corporation's former name is unavailable, its board alone may approve a new name in its articles of incorporation. The corporation may be reinstated at any time. The law takes effect immediately.
A person who shares covered materials must file a copy with the state administrator when the materials go to shareholders. The filing duty applies to any person who shares the covered materials with the required number of shareholders. Covered materials include annual reports, proxies, and other materials about proxy solicitations. The rule applies to corporations organized under Alaska law under the Alaska Native Claims Settlement Act, with a class of equity security held by at least 500 original shareholders when the corporation was organized. The filing rule applies when materials are distributed, published, or made available to at least 30 Alaska resident shareholders of a covered corporation. The person must file the copies with the administrator when the materials are distributed to shareholders.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Jul 3(H) EFFECTIVE DATE(S) OF LAW 6/25/26Latest
- Jul 3(H) Signed into law 6/24 CHAPTER 37 SLA 26Became Law
- Jun 10(H) 1:55 P.M. 6/8/26 Transmitted to GovernorTo Governor
- May 20(H) EFFECTIVE DATE(S) SAME AS PASSAGE
- Vote recorded (H) CONCUR AM OF (S) Y36 N3 A1 #2970. Result: pass.Lower
- May 20(H) CONCUR AM OF (S) Y36 N3 A1
- May 20(H) CONCUR MESSAGE TAKEN UP
- May 20(H) TITLE CHANGE: SCR 13
- May 20(H) CONCUR MESSAGE RECEIVED
- May 19(S) VERSION: SCS CSHB 126(L&C)
- Vote recorded (S) PASSED Y20 N- #2795. Result: pass.Upper
- May 19(S) TRANSMITTED TO (H) AS AMENDEDMajor
- May 19(S) EFFECTIVE DATE(S) SAME AS PASSAGE
- May 19(S) PASSED Y20 N-Major
- May 19(S) READ THE THIRD TIME SCS CSHB 126(L&C)Minor
- May 18(S) ADVANCED TO THIRD READING 5/19 CALMinor
- May 18(S) L&C SCS ADOPTED UC
- May 18(S) READ THE SECOND TIMEMinor
- May 18(S) RULES TO CALENDAR 5/18/2026
- May 13(S) FN6: ZERO(CED)
- May 13(S) FN5: ZERO(CED)
- May 13(S) AM: DUNBAR
- May 13(S) DP: GRAY-JACKSON, YUNDT
- May 13(S) NR: BJORKMAN
- May 13(S) TITLE CHANGE: SCR 13
- May 13(S) L&C RPT SCS 1NR 2DP 1AM NEW TITLE
- May 11(S) Moved SCS CSHB 126(L&C) Out of Committee
- May 11(S) LABOR & COMMERCE at 01:30 PM BELTZ 105 (TSBldg)
- May 6(S) CROSS SPONSOR(S): GRAY-JACKSON, GIESSEL, CLAMAN, CRONK, MERRICK, STEVENS
- May 4(S) Heard & Held
- May 4(S) LABOR & COMMERCE at 01:30 PM BELTZ 105 (TSBldg)
- Apr 27(S) Heard & Held
- Apr 27(S) LABOR & COMMERCE at 01:30 PM BELTZ 105 (TSBldg)
- Mar 4(S) FN4: ZERO(CED)
- Mar 4(S) FN3: ZERO(CED)
- Mar 4(S) NR: YUNDT
- Mar 4(S) DP: MERRICK, OLSON, GRAY-JACKSON
- Mar 4(S) TITLE CHANGE: SCR 13
- Mar 4(S) CRA RPT SCS 3DP 1NR NEW TITLE
- Mar 3(S) Moved SCS CSHB 126(CRA) Out of Committee
- Mar 3(S) COMMUNITY & REGIONAL AFFAIRS at 01:30 PM BELTZ 105 (TSBldg)
- Feb 24(S) Heard & Held
- Feb 24(S) COMMUNITY & REGIONAL AFFAIRS at 01:30 PM BELTZ 105 (TSBldg)
- 2025
- May 19(S) CRA, L&C
- May 19(S) READ THE FIRST TIME - REFERRALSMinor
- May 18(H) VERSION: CSHB 126(TRB) AM
- Vote recorded (H) PASSED Y40 #1296. Result: pass.Lower
- Vote recorded (H) AM NO 2 FAILED Y17 N23 # 1295. Result: fail.Lower
- Vote recorded (H) AM NO 1 ADOPTED Y23 N17 # 1292. Result: pass.Lower
- May 18(H) TRANSMITTED TO (S)Passed Senate
- May 18(H) COSPONSOR(S): JOSEPHSON, ALLARD, BYNUM, KOPP, D.NELSON
- May 18(H) EFFECTIVE DATE(S) SAME AS PASSAGE
- May 18(H) PASSED Y40Passed House
- May 18(H) READ THE THIRD TIME CSHB 126(TRB) AMMinor
- May 18(H) ADVANCED TO THIRD READING UCMinor
- May 18(H) MOTION TO RESCIND ACTION (ADOPTING) AM 1 WITHDRAWN
- May 18(H) AM NO 2 FAILED Y17 N23Minor
- May 18(H) ...CHANGES TITLE OF LEGISLATION
- May 18(H) AM NO 1 ADOPTED Y23 N17Major
- May 18(H) TRB CS ADOPTED UC
- May 18(H) READ THE SECOND TIMEMinor
- May 18(H) RULES TO CALENDAR 5/18/2025
- May 14(H) FN2: ZERO(CED)
- May 14(H) FN1: ZERO(CED)
- May 14(H) DP: HOLLAND, PRAX, HALL, HIMSCHOOT, MEARS
- May 14(H) CRA RPT CS(TRB) NEW TITLE 5DP
- May 13(H) Minutes (HCRA)
- May 13(H) Moved CSHB 126(TRB) Out of Committee
- May 13(H) COMMUNITY & REGIONAL AFFAIRS at 08:00 AM BARNES 124
- May 8(H) Minutes (HCRA)
- May 8(H) Heard & Held
- May 8(H) COMMUNITY & REGIONAL AFFAIRS at 08:00 AM BARNES 124
- May 2(H) FN2: ZERO(CED)
- May 2(H) FN1: ZERO(CED)
- May 2(H) NR: CARRICK
- May 2(H) DP: MOORE, UNDERWOOD, SCHWANKE, BURKE, STORY, DIBERT
- May 2(H) TRB RPT CS(TRB) NEW TITLE 6DP 1NR
- May 1(H) Minutes (HTRB)
- May 1(H) Moved CSHB 126(TRB) Out of Committee
- May 1(H) TRIBAL AFFAIRS at 08:00 AM DAVIS 106
- Apr 30(H) COSPONSOR(S): DIBERT
- Mar 21(H) COSPONSOR(S): BURKE
- Mar 11(H) COSPONSOR(S): JIMMIE
- Mar 5(H) TRB, CRA
- Mar 5(H) READ THE FIRST TIME - REFERRALSIntroduced
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