Alaska Statutes 10.06.526 – Effective date and effect of amendment of articles in reorganization proceedings
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Terms Used In Alaska Statutes 10.06.526
- action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
An amendment becomes effective upon the issuance of a certificate of amendment in reorganization proceedings, and the articles are considered to be amended without action by the directors or shareholders of the corporation and with the same effect as if the amendments had been adopted by unanimous action of the directors and shareholders of the corporation.