Alaska Statutes 10.10.180 – Dissolution of corporation
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Terms Used In Alaska Statutes 10.10.180
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- corporation: means the Alaska Business and Industrial Development Corporation created under this chapter. See Alaska Statutes 10.10.210
- 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.
The corporation may upon the affirmative vote of two-thirds of the votes to which the stockholders are entitled and two-thirds of the votes to which the members are entitled dissolve the corporation. Upon dissolution of the corporation, none of the corporation’s assets shall be distributed to the stockholders until all sums due the members of the corporation as creditors of the corporation have been paid in full.