2013 Alaska Statutes
Title 26 - MILITARY AFFAIRS, VETERANS, DISASTERS, AND AEROSPACE
Chapter 26.27 - ALASKA AEROSPACE CORPORATION
Sec. 26.27.230 Power of corporation to confer upon obligee right to bring action or proceeding.
The corporation may by resolution, trust indenture, mortgage, lease, or other contract confer upon an obligee holding or representing a specified amount in bonds, or holding a lease, the right upon a default as defined in the resolution or instrument by suit, action, or proceeding
(1) to have possession of a space-related project or part of one surrendered to the obligee, with possession retained by the obligee as long as the corporation continues in default;
(2) to obtain the appointment of a receiver of a space-related project or part of one and its rents and profits, who may enter, take possession, and for the duration of the default operate and maintain it, collect and receive all fees, rents, revenues, or other charges thereafter arising, and keep the money in a separate account or accounts to be applied in accordance with the obligations of the corporation as the court directs;
(3) to require the corporation and its members to account as if they were the trustees of an express trust.
Disclaimer: These codes may not be the most recent version. Alaska may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
