Title 10 — Corporations and Associations
13 chapters · 986 sections in this title.
AS 10.20.246 Execution of articles of merger or consolidation.
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Upon approval of the plan of merger or consolidation, articles of merger or articles of consolidation shall be executed in duplicate by each corporation by its president or a vice-president and its secretary or an assistant secretary.
AS 10.20.251 Contents of articles of merger or consolidation.
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The articles of merger or consolidation must set out (1) the plan of merger or the plan of consolidation; (2) if the members of any merging or consolidating corporation are entitled to vote, as to each such corporation (A) a statement setting out the date of the meeting of member…
AS 10.20.256 Filing of articles of merger or consolidation with commissioner.
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(a) Duplicate originals of the articles of merger or articles of consolidation shall be delivered to the commissioner. Upon finding that the articles conform to law, the commissioner shall, when all fees prescribed in this chapter have been paid, (1) endorse on each duplicate ori…
AS 10.20.261 Effective date and effect of merger or consolidation.
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(a) Upon the issuance of the certificate of merger or the certificate of consolidation, the merger or consolidation becomes effective. (b) Merger or consolidation has the following effect: (1) the merging or consolidating corporations are a single corporation, which, in the case …
AS 10.20.266 Merger or consolidation of domestic and foreign corporations.
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One or more foreign corporations and one or more domestic corporations may be merged or consolidated in the manner provided in AS 10.20.271 and 10.20.275 if the merger or consolidation is permitted by the laws of the state under which each foreign corporation is organized.
AS 10.20.271 Law applicable when domestic and foreign corporations merge or consolidate.
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(a) Each domestic corporation shall comply with the provisions of this chapter with respect to the merger or consolidation of domestic corporations and each foreign corporation shall comply with the applicable provisions of the laws of the state under which it is organized. (b) I…
AS 10.20.275 Effect of merger or consolidation of foreign and domestic corporations.
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If the surviving or new corporation is to be governed by the law of this state, the effect of the merger or consolidation is the same as the merger or consolidation of domestic corporations. If the surviving or new corporation is to be governed by the laws of another state, the e…
AS 10.20.280 Sale, lease, exchange, mortgage, or other disposition of assets.
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(a) A sale, lease, exchange, mortgage, pledge, or other disposition of all, or substantially all, the property and assets of a corporation may be made upon such terms and conditions and for such consideration, which may consist in whole or in part of money or property, real or pe…
AS 10.20.285 Other transactions.
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Article 5. Dissolution. Under AS 10.55 (Alaska Entity Transactions Act), a corporation may enter into mergers, interest exchanges, conversions, and domestications that are not covered by AS 10.20.216 — 10.20.280.
AS 10.20.290 Voluntary dissolution.
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(a) A corporation may dissolve and wind up its affairs in the manner set out in (b) and (c) of this section. (b) If there are members entitled to vote, the board of directors shall adopt a resolution recommending that the corporation be dissolved, and directing that the question …
AS 10.20.295 Distribution of assets.
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The assets of a corporation in the process of dissolution shall be applied and distributed as follows: (1) all liabilities and obligations of the corporation shall be paid and discharged, or adequate provision shall be made therefor; (2) assets held by the corporation upon condit…
AS 10.20.300 Plan of distribution.
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(a) A plan providing for the distribution of assets, not inconsistent with the provisions of this chapter, may be adopted by a corporation in the process of dissolution and shall be adopted by a corporation for the purpose of authorizing a transfer or conveyance of assets for whi…
AS 10.20.305 Revocation of voluntary dissolution proceedings.
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(a) A corporation may, at any time before the issuance of a certificate of dissolution by the commissioner, revoke the action taken to dissolve the corporation, in the manner set out in this section. (b) If there are members entitled to vote, the board of directors shall adopt a …
AS 10.20.310 Articles of dissolution.
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If voluntary dissolution proceedings have not been revoked, then, after all debts, liabilities, and obligations of the corporation have been paid and discharged, or adequate provision made for payment, and all of the remaining property and assets of the corporation transferred, c…
AS 10.20.315 Filing of articles of dissolution.
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(a) Duplicate originals of the articles of dissolution shall be delivered to the commissioner. Upon finding that the articles of dissolution conform to law, the commissioner shall, when all fees prescribed by this chapter have been paid: (1) endorse on each of the duplicate origi…
AS 10.20.320 Effect of certificate of dissolution.
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Upon the issuance of the certificate of dissolution the existence of the corporation ceases, except for the purpose of suits, other proceedings and appropriate corporate action by members, directors, and officers as provided in this chapter.
AS 10.20.325 Grounds for involuntary dissolution.
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A corporation may be dissolved involuntarily by the commissioner when it is established that (1) the corporation has failed to file its biennial report within the time required by this chapter; (2) the corporation procured its articles of incorporation through fraud; (3) the corp…
AS 10.20.330 Notification to attorney general. [Repealed, § 35 ch 170 SLA 1976.]
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[Repealed or reserved.]
AS 10.20.335 Notice to corporation.
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When the commissioner determines that a corporation has given any cause for involuntary dissolution, the commissioner shall mail to the corporation a notice, setting out the grounds for involuntary dissolution, 60 days before a certificate of dissolution is issued. The commission…
AS 10.20.340 Action for involuntary dissolution. [Repealed, § 37 ch 170 SLA 1976.]
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[Repealed or reserved.]
AS 10.20.345 Removal of ground for dissolution.
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If the corporation, within the time required by this chapter, files its biennial report or appoints or maintains a registered agent as provided in this chapter, or files with the commissioner the required statement of change of registered office or registered agent, or revokes or…
AS 10.20.350 Jurisdiction and process. [Repealed, § 39 ch 170 SLA 1976.]
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[Repealed or reserved.]
AS 10.20.355 Jurisdiction of court to liquidate assets and business of corporation.
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The superior court may liquidate the assets and business of a corporation in the cases provided in AS 10.20.360 — 10.20.370.
AS 10.20.360 Action by members for liquidation.
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In an action by a member, the superior court may liquidate the assets and business of a corporation when it is established that (1) the directors are deadlocked in the management of the corporate affairs, the members are unable to break the deadlock, and irreparable injury to the…
AS 10.20.365 Action by creditor for liquidation.
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(a) In an action by a creditor, the superior court may liquidate the assets and business of a corporation when (1) the claim of the creditor has been reduced to judgment and an execution on the judgment has been returned unsatisfied and it is established that the corporation is i…
AS 10.20.370 Liquidation on application by corporation.
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Upon application by a corporation that has filed a statement of intent to dissolve, as provided in this chapter, to have its liquidation continued under the supervision of the court, the superior court may liquidate the assets and affairs of the corporation.
AS 10.20.375 Liquidation in action by attorney general for dissolution. [Repealed, § 41 ch 170 SLA 1976.]
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[Repealed or reserved.]
AS 10.20.380 Joinder of members.
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It is not necessary to make members parties to an action or proceeding for liquidation of the assets of a corporation unless relief is sought against them personally.
AS 10.20.385 Procedure in liquidation of corporation by court.
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In a proceeding to liquidate the assets and business of a corporation the superior court may issue injunctions, appoint a receiver pendente lite with powers and duties as the court may direct, and take other proceedings necessary to preserve the corporate assets wherever situated…
AS 10.20.390 Appointment of receiver; powers.
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After a hearing held upon such notice as the court may direct to be given to all parties to the proceedings and to any other parties in interest designated by the court, the court may appoint a liquidating receiver with authority to collect the assets of the corporation, includin…
AS 10.20.395 Disposition of assets or proceeds.
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The assets of the corporation or the proceeds resulting from a sale, conveyance, or other disposition of the assets shall be applied and distributed as follows: (1) all costs and expenses of the court proceedings and all liabilities and obligations of the corporation shall be pai…
AS 10.20.400 Powers and duties of receiver.
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The order appointing the liquidating receiver shall state the receiver's powers and duties. The powers and duties may be increased or diminished at any time during the liquidation proceedings.
AS 10.20.405 Compensation of receiver and attorneys.
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The court may allow from time to time, as expenses of the liquidation, compensation to the receiver and to attorneys in the proceeding, and direct the payment of compensation out of the assets of the corporation or the proceeds of a sale or disposition of assets.
AS 10.20.410 Power of receiver to sue and defend.
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A receiver of a corporation appointed under this chapter may sue and defend in all courts in the receiver's own name as receiver of the corporation.
AS 10.20.415 Exclusive jurisdiction of appointing court.
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The court appointing the receiver has exclusive jurisdiction of the corporation and its property, wherever situated.
AS 10.20.420 Qualifications of receivers.
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A receiver shall be a citizen of the United States or a corporation authorized to act as receiver, which corporation may be a domestic corporation or a foreign corporation authorized to transact business in the state. A receiver shall give the bond the court directs with sureties…
AS 10.20.425 Filing of claims in liquidation proceedings.
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(a) In a proceeding to liquidate the assets and business of a corporation the court may require creditors of the corporation to file with the clerk of the court or with the receiver, in the form the court prescribes, proof under oath of their respective claims. (b) If the court r…
AS 10.20.430 Discontinuance of liquidation proceedings.
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The liquidation of the assets and business of a corporation may be discontinued at any time during the liquidation proceeding when it is established that cause for liquidation no longer exists. In this event, the court shall dismiss the proceeding and direct the receiver to redel…
AS 10.20.435 Decree of involuntary dissolution.
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In proceedings to liquidate the assets and business of a corporation, when the costs and expenses of the proceeding and the debts, obligations, and liabilities of the corporation have been paid and discharged or when the remaining property and assets are not sufficient to satisfy…
AS 10.20.440 Filing of decree of dissolution.
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If the court enters a decree dissolving a corporation, the clerk of the court shall file a certified copy of the decree with the commissioner. A fee may not be charged for this filing.
AS 10.20.445 Deposit with commissioner of amount due creditors or members.
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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 red…
AS 10.20.450 Survival of remedy after dissolution.
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The dissolution of a corporation either by (1) the issuance of a certificate of dissolution by the commissioner, or (2) a decree of the court when the court has not liquidated the assets and business of the corporation as provided in this chapter, or (3) by expiration of its peri…
AS 10.20.452 Continued existence for certain purposes.
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Article 6. Foreign Corporations. 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 f…
AS 10.20.455 Certificate of authority required.
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A foreign nonprofit corporation may not transact business in the state until it has procured a certificate of authority from the commissioner. A foreign corporation may not procure a certificate of authority to transact business in the state that a corporation organized under thi…
AS 10.20.460 Activities not constituting transacting business in the state.
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Without excluding other activities which may not constitute transacting business in the state, a foreign corporation does not transact business in the state by carrying on any of the following activities: (1) maintaining or defending any action or suit or an administrative or arb…
AS 10.20.465 Equal status as domestic corporations.
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A foreign corporation that has received a certificate of authority enjoys the same, but no greater, rights and privileges as a domestic corporation organized for the purposes set out in the application under which the certificate of authority is issued and, except as otherwise pr…
AS 10.20.470 Corporate name of foreign corporation.
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A certificate of authority may not be issued to a foreign corporation unless the corporate name of the corporation (1) does not contain a word or phrase that indicates or implies that it is organized for any purpose other than the purpose contained in its articles of incorporatio…
AS 10.20.471 Assumed corporate name.
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When a foreign corporation, applying for a certificate of authority, has a name that is not available for use by the foreign corporation under AS 10.20.021(b), it shall (1) select a name under which it elects to do business in the state; (2) clearly identify on all advertising, c…
AS 10.20.475 Change of name by foreign corporation.
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When a foreign corporation authorized to transact business in the state changes its name to one under which a certificate of authority would not be granted to it, the certificate of authority of the corporation is suspended and it may not transact business in the state until it h…
AS 10.20.480 Application for certificate of authority.
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To procure a certificate of authority to transact business in the state, a foreign corporation shall file an application in duplicate with the commissioner.