Terms Used In Alaska Statutes 10.15.520

  • 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
  • department: means the Department of Commerce, Community, and Economic Development. See Alaska Statutes 10.15.595
  • member: means a person who has been qualified and accepted for membership in a cooperative. See Alaska Statutes 10.15.595
  • person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
  • shareholder: means a holder of shares of capital stock of a cooperative other than membership stock. See Alaska Statutes 10.15.595

Upon the voluntary or involuntary dissolution of a cooperative, the portion of the assets distributable to a creditor, member, shareholder, or patron or other person unknown or who cannot be found, or who is under a disability with no person legally competent to receive the distributive portion, shall be reduced to cash and, within six months after the final dividend in the liquidation or winding up is payable, shall be deposited with the department. The receiver or other liquidating agent shall prepare in duplicate a statement containing the names and last known addresses of the persons entitled to the funds and shall file the statement with the department. The department shall handle the funds in accordance with Alaska Stat. § 34.45.11034.45.780.