The corporation may upon the affirmative vote of two-thirds of the votes to which the stockholders are entitled and two-thirds of the votes to which the members are entitled dissolve the corporation. Upon dissolution of the corporation, none of the corporation's assets shall be distributed to the stockholders until all sums due the members of the corporation as creditors of the corporation have been paid in full.
Structure Alaska Statutes
Title 10. Corporations and Associations
Chapter 10. Business and Industrial Development Corporation Act
Sec. 10.10.010. Incorporation.
Sec. 10.10.020. Assistance of commissioner.
Sec. 10.10.030. Articles of incorporation and certificate of incorporation.
Sec. 10.10.040. General powers.
Sec. 10.10.050. Authorization of members.
Sec. 10.10.060. Admission to membership.
Sec. 10.10.070. Loans by members.
Sec. 10.10.080. Duration of membership.
Sec. 10.10.090. Powers of stockholders and members.
Sec. 10.10.100. Voting by members and stockholders.
Sec. 10.10.110. Amendment of articles.
Sec. 10.10.120. Directors and officers; annual and special meetings.
Sec. 10.10.130. Earned surplus.
Sec. 10.10.140. Designation of depository; prohibition against receiving deposits.
Sec. 10.10.150. Examinations, reports of condition, and required information.
Sec. 10.10.160. First meeting of corporation.
Sec. 10.10.170. Duration of corporation.
Sec. 10.10.180. Dissolution of corporation.
Sec. 10.10.185. Cancellation of corporate filings.
Sec. 10.10.190. Prohibition of pledge of credit of state.