Alaska Statutes.
Title 45. Trade and Commerce
Chapter 20. Purchase of Ore
Section 40. Failure to Bring Action.
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AS 45.20.040. Failure to Bring Action.

If a person claiming the title to or right of possession of a mine, mining claim, or premises, not having before then brought action, serves notice upon a purchaser or intending purchaser of ore as provided in AS 45.20.030 , and fails or neglects to begin an action as required in this chapter, the notice shall be considered to have been waived, and the party serving the notice is liable to the parties injured in full damages including costs, and the purchaser or intending purchaser is not bound by anything contained in it.

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