Alaska Statutes 10.06.373 – Share dividends: restrictions
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Terms Used In Alaska Statutes 10.06.373
- articles of incorporation: means the original or restated articles of incorporation and all amendments and includes articles of merger. See Alaska Statutes 10.06.990
- shares: means the units into which the proprietary interests in a corporation are divided. See Alaska Statutes 10.06.990
- vote: includes authorization by written consent subject to the provisions of Alaska Stat. See Alaska Statutes 10.06.990
A dividend payable in shares of a class may not be paid to the holders of shares of another class unless authorized by the articles of incorporation or unless payment is authorized by the affirmative vote or the written consent of the holders of at least a majority of the outstanding shares of the class in which the payment is to be made.