Alaska Statutes: AS 10.55.301. Interest Exchange Authorized.

Alaska Statutes. Title 10. Corporations and Associations Chapter 55. Alaska Entity Transactions Act Section 301. Interest Exchange Authorized.

previous: Section 206. Effect of Merger.
next: Section 302. Plan of Interest Exchange.

AS 10.55.301. Interest Exchange Authorized.

(a) Except as otherwise provided in this section, by complying with AS 10.55.301 — 10.55.306,

(1) a domestic entity may acquire all of one or more classes or series of interests of another domestic or foreign entity in exchange for interests, securities, obligations, rights to acquire interests or securities, cash, or other property, or any combination of interests, securities, obligations, rights to acquire interests or securities, cash, or other property; or

(2) all of one or more classes or series of interests of a domestic entity may be acquired by another domestic or foreign entity in exchange for interests, securities, obligations, rights to acquire interests or securities, cash, or other property, or any combination of interests, securities, obligations, rights to acquire interests or securities, cash, or other property.
(b) Except as otherwise provided in this section, by complying with the provisions of AS 10.55.301 — 10.55.306 applicable to foreign entities, a foreign entity may be the acquiring or acquired entity in an interest exchange under AS 10.55.301 — 10.55.306 if the interest exchange is authorized by the law of the foreign entity's jurisdiction of organization.
(c) Unless the provision is amended after July 1, 2014, if a protected agreement contains a provision that applies to a merger of a domestic entity but does not refer to an interest exchange, the provision applies to an interest exchange in which the domestic entity is the acquired entity as if the interest exchange were a merger.
(d) The provisions of AS 10.55.301 — 10.55.306 do not apply to a share exchange under AS 10.06.530 — 10.06.582 or 10.06.960. In this subsection, “share exchange” means a share exchange authorized by AS 10.06.538 or an exchange regulated by AS 10.06.960.

This version of the Alaska Statutes is current through December, 2022. The Alaska Statutes were automatically converted to HTML from a plain text format. Every effort has been made to ensure their accuracy, but this can not be guaranteed. If it is critical that the precise terms of the Alaska Statutes be known, it is recommended that more formal sources be consulted. For statutes adopted after the effective date of these statutes, see, Alaska State Legislature If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful.