Alaska Statutes 10.15.310 – Abandonment of sale or other disposition
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Terms Used In Alaska Statutes 10.15.310
- action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- board: means board of directors. See Alaska Statutes 10.15.595
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
After authorization by votes of members and shareholders, the board may abandon the sale, lease, exchange or other disposition of all or substantially all assets subject to the rights of third parties under a contract relating thereto, without further action or approval by members or shareholders.