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2023 Alaska Statutes
Title 10. Corporations and Associations
Chapter 06. Alaska Corporations Code
Article 4. Corporate Finance.
Sec. 10.06.338. Payment for shares.
Universal Citation:
AK Stat § 10.06.338 (2023)
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(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.
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