1996 Alaska Statutes
TITLE 10 CORPORATIONS AND ASSOCIATIONS
Chapter 10.06. ALASKA CORPORATIONS CODE
Article 04 CORPORATE FINANCE
Sec. 10.06.325. Redemption of shares; creation of sinking fund; repurchase agreements.

(a) Except as provided in (b) of this section, a corporation may provide in its articles of incorporation for one or more classes or series of shares which are redeemable, in whole or in part, at the option of the corporation, at the price or prices, within the time or upon the happening of one or more specified events and upon the terms and conditions as are stated in its articles.

(b) A corporation may not issue redeemable or other shares that purport by their terms to grant to a holder of the shares the right to compel the corporation to redeem the shares, except that an open-end investment company registered under the United States Investment Company Act of 1940 may, if its articles of incorporation so provide, issue shares that are redeemable at the option of the holder at a price approximately equal to the shares' proportionate interest in the net assets of the corporation and a shareholder may compel redemption of the shares in accordance with their terms.

(c) Nothing in this section prevents a corporation from creating a sinking fund or similar provision or entering into an agreement for the redemption or purchase of its shares to the extent permitted by this chapter.