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- Alaska Statutes.
- Title 10. Corporations and Associations
- Chapter 6. Alaska Corporations Code
- Section 308. Issuance of Preferred or Special Classes of Shares.
previous: Section 305
. Issuance of and Requirements For Shares.
next: Section 310
. Issuance of Shares in Series.
AS 10.06.308. Issuance of Preferred or Special Classes of Shares.
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.
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