AK SB77

Amends Alaska Corporations Code provisions on shareholder inspection rights to books and records, requiring written requests stating a proper purpose and allowing corporations to impose reasonable limitations or conditions on use and disclosure.

Establishes new penalties up to $5,000 for shareholders who violate confidentiality agreements or for corporations that unreasonably refuse inspection requests, enforceable through superior court petition.

Requires shareholders claiming misconduct by the corporation or its officers to provide credible evidence basis before inspecting records, and prohibits using court discovery to obtain such evidence.

Allows corporations to deny inspection if shareholders owe unpaid money from a judgment where the corporation prevailed or received attorney fees under Alaska Rules of Civil Procedure Rule 82.

Excludes certain Alaska Corporations Code provisions from applying to state banks, and modifies shareholder voting trust provisions to reference inspection rights under the new books and records statute.