Alaska Statutes 10.20.445 – Deposit with commissioner of amount due creditors
Current as of: 2023 | Check for updates
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Terms Used In Alaska Statutes 10.20.445
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- commissioner: means commissioner of commerce, community, and economic development. See Alaska Statutes 10.20.920
- 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.
- member: means one having membership rights in a corporation in accordance with the provisions of its articles of incorporation or bylaws. See Alaska Statutes 10.20.920
- 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
Upon the voluntary or involuntary dissolution of a corporation, the portion of the assets distributable to a creditor or member who is unknown or cannot be found, or who is under disability and there is no legally competent person to receive the distributive portion, shall be reduced to cash and deposited with the commissioner and shall be paid over to the creditor or member or the legal representative of the creditor or member upon proof satisfactory to the commissioner of a right to it.