AK HB240

Extends the deadline for reinstatement of involuntarily dissolved Native village corporations from December 31, 2006 to December 31, 2017.

Reinstated corporations and their shareholders regain all rights, privileges, liabilities, and obligations as if dissolution had never occurred.

All corporate and shareholder actions taken during the dissolution period are considered valid retroactively.

Allows a reinstated corporation's board of directors alone to amend the articles of incorporation to change the corporate name if the previous name is no longer available for use.

The Act takes effect immediately upon enactment.