A limited liability company may recover property transferred under AS 10.50.355 if the company proves that the execution of the instrument of transfer did not bind the company under AS 10.50.250, unless the property has been transferred by the initial transferee, or by a person claiming through the initial transferee, to a subsequent transferee who gives value without having notice that the person who signed the instrument of initial transfer lacked authority to bind the company.
Structure Alaska Statutes
Title 10. Corporations and Associations
Chapter 50. Alaska Revised Limited Liability Company Act
Article 10. Ownership and Transfer of Property; Creditors.
Sec. 10.50.350. Ownership of company property.
Sec. 10.50.355. Transfer of property.
Sec. 10.50.360. Recovery of property.
Sec. 10.50.370. Nature of interest in company.
Sec. 10.50.375. Assignment of interest in company.
Sec. 10.50.380. Rights of judgment creditors.
Sec. 10.50.385. Rights of estate or legal representative of deceased or incompetent member.