Alaska Statutes 10.15.060 – Payment required for issuance
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Terms Used In Alaska Statutes 10.15.060
- board: means board of directors. See Alaska Statutes 10.15.595
- Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
- property: includes real and personal property. See Alaska Statutes 01.10.060
A stock certificate may not be issued except upon payment of the par value of the shares it represents if the shares have par value, or if the shares are without par value, upon payment of the consideration for the shares expressed in dollars as fixed for the shares by the board. Payment for shares may be in cash or other tangible or intangible property. If payment is made in property other than cash, the value of the property shall be determined by the board. The determination, if made in good faith, is conclusive.