Senate Bill 119, effective January 1, 2024, amends the UCC law to provide that a financing statement sufficiently provides the name of an individual debtor that is indicated on an unexpired state identification card issued to a prisoner upon release by the Department of Corrections.
House Bill 123, effective August 28, 2023, amends the corporation law regarding the vote required for an amendment to the articles of incorporation of a corporation organized under the Alaska Native Claims Settlement Act.
Senate Bill 24, effective March 31, 2021, provides that a meeting of shareholders may be held by electronic communication to the extent the corporation's board authorizes and adopts guidelines to govern an electronic meeting and that a meeting of the members of a nonprofit corporation may be held by telecommunication to the extent the corporation's board adopts or amends bylaws to allow for an electronic meeting.
Case summaries
Piercing the Corporate Veil
Kaiser-Francis Oil Co. v. Oel, No. S-18546, No. 7758, decided March 28, 2025. The Alaska Supreme Court held that when an Alaska court is asked to pierce the corporate veil of a foreign corporation, the choice of whether to apply the law of the state of incorporation or Alaska law is not determined by the internal affairs doctrine, but by traditional choice-of-law principles, which entail balancing the relevant interests of the respective states. The court held that in this case Alaska law applied. The court reversed the trial court, which chose to apply the law of the state of incorporation (Delaware), reasoning that the majority of jurisdictions apply the law of the state of incorporation under the rationale, which the Alaska Supreme Court rejected, that veil-piercing concerns the internal affairs of the corporation and that under the "internal affairs doctrine" a corporation’s internal affairs are always governed by the law of the state of incorporation.
Other notices
April, 2020 — The Department of Commerce, Community, and Economic Development posted a warning for businesses to beware of scams or deceptive solicitations which look official and which request money and/or information. The warning contains examples of what the Corporations Division considers deceptive solicitations.