Bill > HB126

This bill makes two primary changes: first, it allows Native village corporations, which are entities established under the Alaska Native Claims Settlement Act (ANCSA) to manage land and resources for Alaska Natives, to be reinstated at any time, even if they were involuntarily dissolved and missed the original two-year window for reinstatement; and second, it modifies reporting requirements for corporations organized under ANCSA, specifically those with a class of equity security held by 500 or more original shareholders, by removing the previous requirement that these corporations must have total assets exceeding $1,000,000 to be subject to filing proxy solicitation materials with the administrator.