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- Alaska Statutes.
- Title 10. Corporations and Associations
- Chapter 6. Alaska Corporations Code
- Section 338. Payment For Shares.
previous: Section 335
. Consideration For Shares.
next: Section 340
. Judgment of Board or Shareholders as to Value of Consideration Conclusive.
AS 10.06.338. Payment For Shares.
- (a) Consideration for the issuance of shares may be paid, in whole or in part, in money, in other property, tangible or
intangible, or in labor or services actually performed for the corporation. Unless otherwise provided in the articles
of incorporation, when payment of the consideration for shares is received by the corporation, the shares are
considered fully paid and nonassessable.
- (b) A promissory note or future service does not constitute payment or part payment for shares of a corporation.
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