Sec. 16. Reinstatement of dissolved Village or Group Corporations
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Section 3 of the Alaska Native Claims Settlement Act ( 43 U.S.C. 1602 ) is amended by striking subsection
(j)and inserting the following: The term Village Corporation — means an Alaska Native Village Corporation organized under the laws of the State of Alaska as a business for profit or nonprofit corporation to hold, invest, manage, or distribute lands, property, funds, and other rights and assets for and on behalf of a Native village in accordance with the terms of this Act; and shall include any successor corporation of a Village Corporation involuntarily dissolved under the laws of the State of Alaska if— the successor has received all or substantially all the assets of the original Village Corporation; the shareholders of the successor are comprised of all shareholders of record or heirs of such shareholders at the time of such involuntary dissolution; and the successor corporation is organized under the laws of the State of Alaska; .
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Sec. 16
Reinstatement of dissolved Village or Group Corporations
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