Alaska Statutes 10.15.105 – Limitations on acquisition, recall, or redemption
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Terms Used In Alaska Statutes 10.15.105
- articles: means articles of incorporation. See Alaska Statutes 10.15.595
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- cooperative: means a cooperative corporation subject to the provisions of this chapter. See Alaska Statutes 10.15.595
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
No acquisition, recall, or redemption of stock or other evidence of equity may be made if the result would be to bring the value of the remaining assets of the cooperative below the aggregate of its indebtedness. The articles may provide limitations on the right of a cooperative to acquire, recall, exchange, or redeem its shares or other evidences of equity.