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- Alaska Statutes.
- Title 10. Corporations and Associations
- Chapter 6. Alaska Corporations Code
- Section 568. Sale of Assets Not in Regular Course of Business.
previous: Section 566
. Disposition of Assets in Regular Course of Business; Mortgage or Pledge of Assets.
next: Section 570
. Approval of Transaction By Shareholders.
AS 10.06.568. Sale of Assets Not in Regular Course of Business.
- (a) A sale, lease, exchange, or other disposition of all, or substantially all, of the property and assets, with or
without the good will, of a corporation, if not in the usual and regular course of its business, may be made upon terms
and conditions and for consideration, that may consist in whole or in part of cash or other property, including shares,
obligations or other securities of another foreign or domestic corporation, as authorized in (b) of this section.
- (b) A sale, lease, exchange, or other disposition shall be recommended to the shareholders by resolution approved by the
board and submitted to a vote of the shareholders at a regular or special meeting. Written notice shall be given to
each shareholder of record of the corporation, whether or not the shares have voting rights under the articles of the
corporation, not less than 20 days before the meeting, in the manner provided in this chapter for the giving of notice
of meetings of shareholders. Whether the meeting is an annual or special meeting the notice shall state that the
purpose or one of the purposes of the meeting is to consider the proposed sale, lease, exchange, or other disposition,
and include a copy of AS 10.06.574
- 10.06.576, concerning the rights of a dissenting
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