Alaska Statutes 10.20.452 – Continued existence for certain purposes
Terms Used In Alaska Statutes 10.20.452
- action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
- board of directors: means the group of persons vested with the management of the affairs of the corporation irrespective of the name by which the group is designated. See Alaska Statutes 10.20.920
- 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.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Personal property: All property that is not real property.
- personal property: includes money, goods, chattels, things in action, and evidences of debt. See Alaska Statutes 01.10.060
- property: includes real and personal property. See Alaska Statutes 01.10.060
- Service of process: The service of writs or summonses to the appropriate party.
- Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
If a dissolved corporation is the owner of real or personal property, or claims an interest in or lien upon real or personal property, the corporation through its board of directors continues to exist for five years after the date of dissolution for the purpose of conveying, transferring, or releasing the real or personal property or interest in or lien upon the property. In addition, a dissolved corporation through its board of directors continues to exist for the purpose of being made a party in an action or proceeding arising before dissolution and involving the title to real or personal property or an interest in it. The action or proceeding may be instituted and maintained in the same manner as before the dissolution of the corporation. This section does not affect or suspend a statute of limitations applicable to a claim. For the purpose of service of process, notice, or demand within the prescribed time following dissolution, the commissioner is an agent of the dissolved corporation upon whom service may be made in the manner prescribed in Alaska Stat. § 10.06.175(b).