If authorized by the articles of incorporation, a corporation may issue preferred or special classes of shares (1) subject to redemption as provided under AS 10.06.325; (2) entitling the holders to cumulative, noncumulative, or partially cumulative dividends; (3) having preferences over another class or classes of shares for the payment of dividends; (4) having preference in the assets of the corporation over another class of shares upon the voluntary or involuntary liquidation of the corporation; (5) convertible into shares of another class or into shares of a series of the same or another class, except a class having prior or superior rights and preferences as to dividends or distribution of assets upon liquidation.
‹ Prev All Alaska sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.