Alaska Statutes 10.06.390 – Capitalization of retained earnings
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Terms Used In Alaska Statutes 10.06.390
- board: means the board of directors of a domestic or foreign corporation. See Alaska Statutes 10.06.990
- 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.
- paid-in capital: means the consideration actually received by a corporation for issuance of its shares, plus any additional amount capitalized by its board under Alaska Stat. See Alaska Statutes 10.06.990
- retained earnings: means the account of the corporation representing undistributed and uncapitalized net profits, income, gains, and losses from the date of incorporation. See Alaska Statutes 10.06.990
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 of the corporation be transferred to the paid-in capital account.