Alaska Stat. § 10.06.020
This is the official text of Alaska Stat. § 10.06.020, part of Alaska’s Stat — part of the compiled statutory law of Alaska, published by the state as "Stat." Browse the sections below, each linked to its official government source.
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Limitations on powers of shareholders, officers, and directors.
Official statutory text
A limitation upon the powers of the shareholders, officers, or directors, or the manner or exercise of their powers, contained in or implied by the articles of incorporation, bylaws, or action of the board, or by AS 10.06.605 10.06.678 or 10.06.705 10.06.788 or by a shareholders' agreement may not be asserted as between the corporation or a shareholder and a third person, except in a proceeding (1) by a shareholder or the state to enjoin the doing or continuance of unauthorized business by the corporation or its officers, or both, in a case where a third party has not acquired rights under AS 10.06.025 (a);
(2) to dissolve the corporation; or
(3) by the corporation or by a shareholder suing in a representative suit against the officers or directors of the corporation for violation of their duty.
(2) to dissolve the corporation; or
(3) by the corporation or by a shareholder suing in a representative suit against the officers or directors of the corporation for violation of their duty.
Status: in_force · Read it on the official government site
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