1997 Alaska Statutes
Title 10 CORPORATIONS AND ASSOCIATIONS
Chapter 10.20. NONPROFIT CORPORATIONS
Sec. 10.20.136. Shares of stock and dividends prohibited.
A corporation may not have or issue shares of stock. No dividend may be paid and no part of the income or profit of a corporation may be distributed to its members, directors or officers. A corporation may pay compensation in a reasonable amount to its members, directors or officers for services rendered, may confer benefits upon its members in conformity with its purposes, and upon dissolution or final liquidation may make distribution to its members as permitted by this chapter, and a payment, benefit or distribution under this section may not be considered to be a dividend or a distribution of income or profit.
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.
