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- Alaska Statutes.
- Title 10. Corporations and Associations
- Chapter 20. Alaska Nonprofit Corporation Act
- Section 16. Defense of Ultra Vires.
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. General Powers.
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. Corporate Name.
AS 10.20.016. Defense of Ultra Vires.
- (a) An act of a corporation and a conveyance or transfer of real or personal property to or by a corporation is not
invalid because the corporation did not have capacity or power to perform the act or to convey or receive the property.
However, lack of capacity or power may be asserted as provided in this section.
- (b) The assertion may be made in a proceeding by a member or director against the corporation to enjoin the performance of
an act or the transfer of real or personal property by or to the corporation. If the unauthorized act or transfer
sought to be enjoined is being or is to be performed or made under a contract to which the corporation is a party, the
court may, if the parties to the contract are parties to the proceeding and if the court considers it equitable, set
aside and enjoin the performance of the contract. In so doing the court may allow compensation to the corporation or
to the other parties to the contract for the loss or damage sustained by either of them resulting from the action of
the court in setting aside and enjoining the performance of the contract. The court may not award anticipated profits
to be derived from the performance of the contract as a loss or damage sustained.
- (c) The assertion may be made in a proceeding by the corporation, whether acting directly or through a receiver, trustee,
or other legal representative, or through members in a representative suit, against the incumbent or former officers or
directors of the corporation.
- (d) The assertion may be made in a proceeding by the attorney general to dissolve the corporation, or to enjoin the
corporation from the transaction of unauthorized business.
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