(a) The right to acquire exploration and mining rights under AS 38.05.185 - 38.05.275 may be acquired or held only by
(1) citizens of the United States at least 18 years of age;
(2) legal guardians or trustees of citizens of the United States under 18 years of age on behalf of the citizens;
(3) persons at least 18 years of age who have declared their intention to become citizens of the United States;
(4) aliens at least 18 years of age if the laws of their country grant like privileges to citizens of the United States;
(5) corporations organized under the laws of the United States or of any state or territory of the United States and qualified to do business in this state;
(6) associations of persons described in (1) - (5) of this subsection.
(b) An unqualified person who acquires an interest in exploration or mining rights by operation of law shall be allowed two years in which to become qualified or to dispose of the interest to a qualified person.
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