Alaska Statutes Title 10, Chapter 10.06, Article 04 - Corporate Finance

• Sec. 10.06.305 Issuance of and Requirements for Shares.
  (a) Subject to the provisions of this chapter, a corporation may issue one or more classes or series of shares or both, with full,...
• Sec. 10.06.308 Issuance of Preferred or Special Classes of Shares.
  If authorized by the articles of incorporation, a corporation may issue preferred or special classes of shares(1) subject to redemption as provided under AS...
• Sec. 10.06.310 Issuance of Shares in Series.
  If authorized by the articles of incorporation, the shares of a preferred or special class may be divided into and issued in series. Each...
• Sec. 10.06.313 Variation in Rights and Preferences of Shares.
  Any or all of the rights and preferences of a series of a preferred or special class of shares and the variations in the...
• Sec. 10.06.315 Series Rights and Preferences Established by Board.
  If the articles of incorporation expressly vest authority in the board, then, to the extent that the articles have not established series and fixed...
• Sec. 10.06.318 Manner of Establishing Series.
  If the authority to establish a series is contained in the articles of incorporation, the board shall adopt a resolution setting out the designation...
• Sec. 10.06.320 Filing of Statement Before Issuance of Class or Series.
  (a) Before the issuance of shares of a class the rights, preferences, privileges, and restrictions of which have been fixed by resolution of the...
• Sec. 10.06.323 Effect of Filing Statement.
  When the commissioner has filed the statement under AS 10.06.320 , the resolution fixing the rights, preferences, privileges, and restrictions of a wholly unissued...
• Sec. 10.06.325 Redemption of Shares; Creation of Sinking Fund; Repurchase Agreements.
  (a) A corporation may provide in the articles of incorporation for one or more classes or series of(1) common shares that are redeemable, in...
• Sec. 10.06.328 Irrevocability of Subscriptions for Shares.
  A subscription for shares of a corporation to be organized is irrevocable for a period of six months, unless the subscription agreement provides otherwise...
• Sec. 10.06.330 Payment of Subscription for Shares.
  Unless otherwise provided in the subscription agreement, subscriptions for shares, whether made before or after the organization of a corporation, shall be paid in...
• Sec. 10.06.333 Remedies for Default in Payment.
  In case of default in the payment of an installment or call when payment is due, the corporation may proceed to collect the amount...
• Sec. 10.06.335 Consideration for Shares.
  Shares may be issued for consideration expressed in dollars fixed by the board unless the articles of incorporation reserve to the shareholders the right...
• Sec. 10.06.338 Payment for Shares.
  (a) Consideration for the issuance of shares may be paid, in whole or in part, in money, in other property, tangible or intangible, or...
• Sec. 10.06.340 Judgment of Board or Shareholders As to Value of Consideration Conclusive.
  In the absence of fraud in the transaction, the judgment of the board or the shareholders as to the value of the consideration received...
• Sec. 10.06.343 Share Rights and Options.
  Subject to a provision in its articles, a corporation may create and issue, whether or not in connection with the issuance and sale of...
• Sec. 10.06.345 Expenses of Organization, Reorganization, and Financing.
  The reasonable charges and expenses of organization or reorganization of a corporation, and the reasonable expenses of and compensation for the sale or underwriting...
• Sec. 10.06.348 Certificates Representing Shares.
  Except as otherwise provided under AS 10.06.349 , the shares of a corporation shall be represented by certificates signed by the president or vice-president...
• Sec. 10.06.349 Shares Without Certificates.
  (a) Unless the articles or bylaws provide otherwise, the board of directors may authorize the issuance without certificates of some or all of the...
• Sec. 10.06.350 Information Required to Be Stated on Certificate.
  (a) Each certificate representing shares issued by a corporation authorized to issue shares of more than one class shall set out on the face...
• Sec. 10.06.353 Full Payment Required for Share.
  A share with or without a certificate may not be issued until the share is fully paid.
• Sec. 10.06.355 Issuance of Fractional Shares or Scrip.
  (a) A corporation may issue a fractional share, and, by action of its board, may issue, instead of a fractional certificate, scrip in registered...
• Sec. 10.06.356 Shares Held by Nominees.
  (a) A corporation may establish a procedure by which the beneficial owner of shares that are registered in the name of a nominee is...
• Sec. 10.06.358 Distributions; Conditions; Financial Statements and Determinations.
  (a) A corporation or a subsidiary of the corporation may not make a distribution to the corporation's shareholders as defined in AS 10.06.990 unless(1)...
• Sec. 10.06.360 Prohibited Distribution; Inability to Meet Maturing Liabilities.
  A corporation or subsidiary of a corporation may not make a distribution to the corporation's shareholders if the corporation or the subsidiary making the...
• Sec. 10.06.363 Prohibited Distribution on Junior Shares; Liquidation Preference.
  A corporation or subsidiary of a corporation may not make a distribution to the corporation's shareholders on any shares of its stock of a...
• Sec. 10.06.365 Prohibited Distribution on Junior Shares; Ratio of Retained Earnings.
  A corporation or a subsidiary of a corporation may not make a distribution to the corporation's shareholders on any shares of its stock of...
• Sec. 10.06.368 Exception for Purchase or Redemption of Shares of Deceased Shareholder.
  The provisions of AS 10.06.358 , 10.06.360, 10.06.363, and 10.06.365 do not apply to a purchase or redemption of shares of a deceased shareholder...
• Sec. 10.06.370 Inapplicability to Regulated Investment Company.
  The provisions of AS 10.06.358 do not apply to a dividend declared by a regulated investment company, as defined in the United States Internal...
• Sec. 10.06.373 Share Dividends: Restrictions.
  A dividend payable in shares of a class may not be paid to the holders of shares of another class unless authorized by the...
• Sec. 10.06.375 Additional Restrictions in Articles, Bylaws, Indentures, or Agreements.
  Nothing in this chapter prohibits additional restrictions upon the declaration of dividends or the purchase or redemption of a corporation's own shares by provision...
• Sec. 10.06.378 Liability of Shareholders Receiving Prohibited Distributions; Suit Against Shareholders.
  (a) A shareholder who receives a distribution prohibited by this chapter with knowledge of facts indicating the impropriety of the distribution is liable to...
• Sec. 10.06.380 Identification of Distribution in Notice to Shareholders.
  A distribution other than one chargeable to retained earnings shall be identified in a notice to shareholders as being made from a source other...
• Sec. 10.06.383 Inapplicability to Winding Up and Involuntary or Voluntary Dissolution.
  AS 10.06.305 - 10.06.390 do not apply in a proceeding for winding up and dissolution under AS 10.06.605 - 10.06.678.
• Sec. 10.06.385 Redemption of Shares At the Option of Corporation; Manner.
  (a) A corporation may redeem any or all shares that are redeemable at its option by(1) giving notice of redemption; and(2) payment or deposit...
• Sec. 10.06.388 Acquisition of Corporation's Own Shares; Reissuance or Retirement.
  (a) When a corporation purchases or redeems or otherwise acquires its own shares, the shares are restored to the status of authorized but unissued...
• Sec. 10.06.390 Capitalization of Retained Earnings.
  The paid-in capital of a corporation may be increased by resolution of the board directing that all or a part of the retained earnings...

Last modified: November 15, 2016