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- Alaska Statutes.
- Title 10. Corporations and Associations
- Chapter 6. Alaska Corporations Code
- Section 540. Procedure For Share Exchange.
previous: Section 538
. Share Exchange.
next: Section 542
. Disparate Treatment of Shares of the Same Class or Series Prohibited; Exceptions.
AS 10.06.540. Procedure For Share Exchange.
- (a) A plan of exchange approved by a resolution of the board of each corporation shall be proposed setting out
- (1) the name of the corporation the shares of which are proposed to be acquired by exchange and the name of the acquiring
- (2) the terms and conditions of the proposed exchange;
- (3) the manner and basis of exchanging the shares to be acquired for shares, obligations, or other securities of the
acquiring corporation or another corporation, or, in whole or in part, for cash or other property;
- (4) other provisions of the proposed exchange considered necessary or desirable.
- (b) The procedure authorized by this section does not limit the power of a corporation to acquire all or part of the
shares of any class or classes of a corporation through voluntary exchange or otherwise by agreement with the
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