Alaska Stat. § 10.06.438
This is the official text of Alaska Stat. § 10.06.438, 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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Liability of shareholders, subscribers, and others arising out of shares.
Official statutory text
(a) A holder of or subscriber to shares of a corporation is under no obligation to the corporation or its creditors as holder or subscriber with respect to the shares other than the obligation to pay the corporation the full consideration for which the shares were issued or to be issued.
(b) An assignee or transferee of shares, or of a subscription for shares, in good faith and without knowledge or notice that the full consideration has not been paid, is not personally liable to the corporation or its creditors for any unpaid portion of the consideration.
(c) An executor, administrator, conservator, guardian, trustee, assignee for the benefit of creditors, or receiver is not personally liable to the corporation or its creditors for any unpaid portion of the consideration.
(d) A pledgee or other holder of shares as collateral security is not personally liable as a shareholder.
Article 6. Directors, Officers, Employees, and Agents.
(b) An assignee or transferee of shares, or of a subscription for shares, in good faith and without knowledge or notice that the full consideration has not been paid, is not personally liable to the corporation or its creditors for any unpaid portion of the consideration.
(c) An executor, administrator, conservator, guardian, trustee, assignee for the benefit of creditors, or receiver is not personally liable to the corporation or its creditors for any unpaid portion of the consideration.
(d) A pledgee or other holder of shares as collateral security is not personally liable as a shareholder.
Article 6. Directors, Officers, Employees, and Agents.
Status: in_force · Read it on the official government site
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