Alaska Stat. § 10.06.338
This is the official text of Alaska Stat. § 10.06.338, 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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Payment for shares.
Official statutory text
(a) Consideration for the issuance of shares may be paid, in whole or in part, in money, in other property, tangible or intangible, or in labor or services actually performed for the corporation. Unless otherwise provided in the articles of incorporation, when payment of the consideration for shares is received by the corporation, the shares are considered fully paid and nonassessable.
(b) A promissory note or future service does not constitute payment or part payment for shares of a corporation.
(b) A promissory note or future service does not constitute payment or part payment for shares of a corporation.
Status: in_force · Read it on the official government site
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