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Alaska2026Enacted

HB126

Reinstating Native Village Corporations and Reporting Proxy Materials

Last scannedAug 22, 2026, 12:25 AM

In one sentence

This law allows dissolved Alaska Native village corporations to apply for reinstatement at any time, regardless of previous two-year limits, and requires certain proxy solicitation materials sent to shareholders to be filed with the state administrator.

What it does

  • Removes the requirement that a corporation must apply for reinstatement within two years after involuntary dissolution if it is an Alaska Native village corporation.
  • Allows these corporations to regain all rights, privileges, liabilities, and obligations as if they had never been dissolved.
  • Treats actions taken by shareholders during the time of dissolution as valid legal acts.
  • Permits a corporation's board of directors alone to change its name upon reinstatement if the original corporate name is no longer available.
  • Requires copies of annual reports, proxies, consents, authorizations, proxy statements, and other materials relating to proxy solicitations sent to at least 30 Alaska resident shareholders to be filed with the administrator.

Who it affects

  • Native village corporations organized under the Alaska Native Claims Settlement Act that have been involuntarily dissolved.
  • Shareholders of these Native village corporations.
  • Corporations organized under Alaska law under the Alaska Native Claims Settlement Act with a class of equity security held by 500 or more original shareholders.

Limits and unknowns

  • The law does not specify what happens if a corporation fails to file the required proxy materials with the administrator.
  • The bill does not define specific penalties for corporations that do not follow these new reporting or reinstatement rules.

Plain language

Terms to know

Reinstatement
The legal process of restoring a dissolved corporation to active status so it can operate again.
Proxy solicitation
Materials sent to shareholders asking them how they want their votes cast on company matters without attending the meeting in person.
Involuntary dissolution
When a government official closes down a corporation because it failed to meet legal requirements, such as filing reports or paying fees.

Official record

Sources

Validated
Official bill pageIntroduced textCurrent bill textStored full record

Official summary

REINSTATEMENT NATIVE CORPS/ANCSA REPORTS An Act relating to the reinstatement of Native village corporations; relating to proxy solicitations to shareholders of corporations organized under state law under the Alaska Native Claims Settlement Act; and providing for an effective date.

Official activity

Bill history

  1. (H) EFFECTIVE DATE(S) OF LAW 6/25/263147
  2. (H) SIGNED INTO LAW 6/24 CHAPTER 37 SLA 263147
  3. (H) 1:55 P.M. 6/8/26 TRANSMITTED TO GOVERNOR3059
  4. (H) TITLE CHANGE: SCR 132971
  5. (H) EFFECTIVE DATE(S) SAME AS PASSAGE2971
  6. (H) CONCUR AM OF (S) Y36 N3 A12970
  7. (H) CONCUR MESSAGE TAKEN UP2970
  8. (H) CONCUR MESSAGE RECEIVED2970
  9. (S) VERSION: SCS CSHB 126(L&C)2806
  10. (S) TRANSMITTED TO (H) AS AMENDED2806
  11. (S) EFFECTIVE DATE(S) SAME AS PASSAGE2795
  12. (S) PASSED Y20 N-2795
  13. (S) READ THE THIRD TIME SCS CSHB 126(L&C)2795
  14. (S) ADVANCED TO THIRD READING 5/19 CAL2759
  15. (S) L&C SCS ADOPTED UC2758
  16. (S) READ THE SECOND TIME2758
  17. (S) RULES TO CALENDAR 5/18/20262758
  18. (S) FN6: ZERO(CED)2620
  19. (S) FN5: ZERO(CED)2620
  20. (S) AM: DUNBAR2620

Changes

Amendments

2 stored

AM 1

AM NO 1 ADOPTED Y23 N17 1292

AM 2

AM NO 2 FAILED Y17 N23 1295