Alaska Statutes
Title 10. Corporations and Associations
Chapter 15. Alaska Cooperative Corporation Act

Sec. 10.15.080. Determining who are shareholders for purposes of notice, voting, and dividends. - For the purpose of determining shareholders entitled to notice of...

Sec. 10.15.085. Subscription for shares. - A subscription for shares of a cooperative is irrevocable for...

Sec. 10.15.090. Limitation of liability of members. - Except for a debt lawfully contracted between a member and...

Sec. 10.15.095. Dividends on capital stock. - A cooperative organized with capital stock may pay the dividend...

Sec. 10.15.100. Recall, acquisition, exchange, redemption, and reissuance of stock or other evidence of equity. - Unless the articles provide otherwise, a cooperative may recall membership...

Sec. 10.15.105. Limitations on acquisition, recall, exchange, or redemption. - No acquisition, recall, or redemption of stock or other evidence...

Sec. 10.15.110. Status of acquired, recalled, exchanged, or redeemed shares. - When shares are acquired, recalled, exchanged or redeemed by the...

Sec. 10.15.115. Missing certificates or ownership records. - (a) When a certificate for a security issued by a...

Sec. 10.15.120. Meetings of members. - (a) Meetings of members may be held either inside or...

Sec. 10.15.125. Districts and district meetings. - A cooperative may provide in its bylaws (1) for the...

Sec. 10.15.130. Voting by members. - (a) Each member has one vote except that bylaws may...

Sec. 10.15.135. Quorum of members. - Ten percent of voting members, in person or by proxy,...

Sec. 10.15.140. Qualifications and membership of board of directors. - (a) The board of directors shall manage the business and...

Sec. 10.15.145. Initial board of directors. - Directors constituting the initial board hold office until the first...

Sec. 10.15.150. Election and terms of directors. - At the first annual meeting and at subsequent meetings, directors...

Sec. 10.15.155. Removal of directors. - A director may be removed upon a majority vote of...

Sec. 10.15.160. Filling unexpired term. - Unless the bylaws provide otherwise, a vacancy in the board...

Sec. 10.15.165. Meetings of board of directors. - (a) Regular or special meetings of the board may be...

Sec. 10.15.170. Executive committee. - (a) If the bylaws provide, the board may elect an...

Sec. 10.15.175. Officers. - (a) The principal officers of a cooperative are a president,...

Sec. 10.15.180. Compensation and benefits to directors, officers, and employees. - Unless the bylaws provide otherwise, (1) only the members of...

Sec. 10.15.185. Taking action without meeting. - Action required by this chapter to be taken at a...

Sec. 10.15.190. Waiver of notice. - Whenever a notice is required to be given to a...

Sec. 10.15.195. Voting requirements of articles. - If the articles require the vote of a greater proportion...

Sec. 10.15.200. Procedural requisites in action brought in right of cooperative by member or shareholder. - (a) An action may not be instituted or maintained in...

Sec. 10.15.205. Allowance of costs to plaintiff; accounting for proceeds. - If anything is recovered or obtained as the result of...

Sec. 10.15.210. Security for costs. - In an action brought in the right of a cooperative...

Sec. 10.15.215. Permitted purposes of cooperative contracts with members. - Contracts for any of the following purposes, whether contained in...

Sec. 10.15.220. Liquidated damages clause in cooperative contracts. - The contract referred to in AS 10.15.215 may fix and...

Sec. 10.15.225. Contracts between two or more cooperatives. - Two or more cooperatives may contract and act in association,...

Sec. 10.15.230. Recording of cooperative contracts. - A cooperative may record a contract authorized by this chapter...

Sec. 10.15.235. Recording of uniform cooperative contracts. - If the cooperative has substantially uniform contracts with more than...

Sec. 10.15.240. Recording procedure. - The recorder shall number consecutively and record each contract, and...

Sec. 10.15.245. Fees for recording contracts. - The fee for recording the contract is the same as...

Sec. 10.15.250. Effect of recording contract; subsequent interests and liens. - Recording under AS 10.15.230 - 10.15.260 operates as a constructive...

Sec. 10.15.255. Termination of recorded contract. - When a contract recorded under AS 10.15.230 - 10.15.260 has...

Sec. 10.15.260. Recording of list of terminated contracts. - A cooperative may record in the office of the recorder...

Sec. 10.15.265. Relief against breach or threatened breach of contract and penalty for interference. - (a) In the event of a breach or threatened breach...

Sec. 10.15.270. Action for civil penalty for inducing breach of contract with cooperative or spreading false reports about cooperative. - In addition to the remedies provided in AS 10.15.265(b), a...

Sec. 10.15.275. Apportionment and distribution of net proceeds, savings, or net losses. - The net proceeds or savings of a cooperative shall be...

Sec. 10.15.280. Manner of payment. - The apportionment, distribution, and payment of net proceeds or savings...

Sec. 10.15.285. Manner of apportionment and distribution. - (a) Apportionment and distribution of net proceeds or savings or...

Sec. 10.15.290. Determination of net proceeds, savings, or losses. - For the purposes of AS 10.15.275 - 10.15.290 net proceeds...

Sec. 10.15.295. Unclaimed distribution, redemptions, or payments. - A distribution of net margins by a cooperative or a...

Sec. 10.15.300. Sale or other disposition of entire assets in regular course of business. - The sale, lease, exchange or other disposition of all, or...

Sec. 10.15.305. Sale or other disposition of entire assets not in regular course of business. - A sale, lease, exchange, or other disposition of all, or...

Sec. 10.15.310. Abandonment of sale or other disposition. - After authorization by votes of members and shareholders, the board...

Sec. 10.15.315. Books and records; inspection. - (a) A cooperative shall keep correct and complete books and...

Sec. 10.15.320. Biennial report. - (a) Each cooperative shall file with the department before July...

Sec. 10.15.325. Form of biennial report; delinquent reports. - The biennial report shall be made on forms furnished by...

Sec. 10.15.330. Acceptance of biennial reports by department. - If the department finds that the biennial report conforms to...

Sec. 10.15.331. Filing notice of change of officer or director. - (a) In the event of a change of an officer...

Article 2. Formation of Cooperatives.

Sec. 10.15.335. Procedure for incorporation. - Three or more natural persons at least 19 years of...

Sec. 10.15.340. Filing of articles. - (a) Upon finding that the articles conform to law, the...

Sec. 10.15.345. Effect of certificate of incorporation. - Upon the issuance of the certificate of incorporation, the corporate...

Sec. 10.15.350. Contents of articles of incorporation; director liability. - (a) The articles of incorporation must set forth (1) the...

Sec. 10.15.355. Other provisions in articles; relationship of articles to bylaws. - It is not necessary to set forth in the articles...

Sec. 10.15.360. Organizational meeting of directors. - After the issuance of the certificate of incorporation an organizational...

Article 3. Amendment and Restatement of Articles.

Sec. 10.15.365. Amendment of articles. - A cooperative may amend its articles from time to time...

Sec. 10.15.370. Procedure for adopting amendments. - (a) An amendment to the articles shall be made in...

Sec. 10.15.375. Shareholder and member voting on amendments to articles. - (a) If a proposed amendment to articles would affect a...

Sec. 10.15.380. Execution and content of articles of amendment. - Following adoption of an amendment to the articles, it shall...

Sec. 10.15.385. Filing of articles of amendment. - Duplicate originals of the articles of amendment shall be filed,...

Sec. 10.15.390. Effect of amendments. - An amendment does not affect an existing cause of action...

Sec. 10.15.395. Governing law. - The provisions of AS 10.06 (Alaska Corporations Code) relating to...

Article 4. Merger, Consolidation, and Conversion of Corporation Into Cooperative.

Sec. 10.15.400. Merger and consolidation. - Two or more cooperatives may merge or consolidate pursuant to...

Sec. 10.15.405. Approval and contents of plan of merger or consolidation. - The board of each cooperative shall, by resolution adopted by...

Sec. 10.15.410. Adoption of plan of merger or consolidation. - The board of each cooperative, upon approving the plan of...

Sec. 10.15.415. Abandonment of plan of merger or consolidation. - After adoption of the plan, and at any time prior...

Sec. 10.15.420. Execution of articles of merger or consolidation. - Upon adoption of the plan of merger or consolidation, articles...

Sec. 10.15.425. Contents of articles. - The articles of merger or consolidation must set out (1)...

Sec. 10.15.430. Filing of articles. - Duplicate originals of the articles of merger or articles of...

Sec. 10.15.435. Effect of merger or consolidation. - When the merger or consolidation is effective (1) the several...

Sec. 10.15.440. Merger or consolidation of cooperatives and domestic and foreign corporations. - (a) One or more cooperatives may merge or consolidate with...

Sec. 10.15.445. Effect of merger or consolidation. - (a) If the surviving or new corporation is a cooperative,...

Sec. 10.15.455. Definitions. - In AS 10.15.400 - 10.15.455, (1) “new cooperative” means the...

Article 5. Dissolution.

Sec. 10.15.460. Voluntary dissolution by act of cooperative. - (a) A cooperative may be dissolved by the act of...

Sec. 10.15.465. Execution and content of statement of intent to dissolve. - Upon the adoption of the resolution, a statement of intent...

Sec. 10.15.470. Filing statement of intent to dissolve. - (a) Duplicate originals of the statement of intent to dissolve...

Sec. 10.15.475. Procedure after filing of statement of intent to dissolve. - After the filing by the department of a statement of...

Sec. 10.15.480. Revocation of voluntary dissolution proceedings by act of cooperative. - A cooperative, at any time prior to the issuance of...

Sec. 10.15.485. Execution and content of statement of revocation of voluntary dissolution proceedings. - Upon the adoption of the resolution of revocation, a statement...

Sec. 10.15.490. Filing statement of revocation of voluntary dissolution proceedings. - (a) Duplicate originals of the statement of revocation of voluntary...

Sec. 10.15.495. Articles of dissolution. - If voluntary dissolution proceedings have not been revoked, when all...

Sec. 10.15.500. Filing articles of dissolution and issuance of certificate of dissolution. - (a) Duplicate originals of the articles of dissolution shall be...

Sec. 10.15.505. Involuntary dissolution and cancellation of corporate filings. - The provisions in AS 10.06 (Alaska Corporations Code) relating to...

Sec. 10.15.510. Jurisdiction of court to liquidate assets and business of cooperative. - In addition to any other instances in which the law...

Sec. 10.15.515. Joinder of members or shareholders unnecessary. - It is not necessary to make members or shareholders parties...

Sec. 10.15.520. Deposit with department of amount due persons who cannot be found; unknown persons, or incompetent persons. - Upon the voluntary or involuntary dissolution of a cooperative, the...

Article 6. Foreign Cooperatives.

Sec. 10.15.525. Rights, exemptions, and privileges of foreign cooperatives. - A foreign cooperative which has a member residing in the...

Article 7. Fees, Charges, and Penalties.

Sec. 10.15.530. Biennial license fee. - Each cooperative not organized and operated for nonprofit religious, charitable,...

Sec. 10.15.545. Amount of license fee. - The license fee of each cooperative shall be established by...

Sec. 10.15.550. Penalty. - A cooperative that fails to pay the annual license fee...

Sec. 10.15.555. Miscellaneous fees and charges. - (a) The department shall establish by regulation and charge and...

Sec. 10.15.560. Payment required for filing. - The department may not file a document until all fees...

Article 8. Miscellaneous Provisions.

Sec. 10.15.565. Failure to approve document. - If the department fails to approve articles of incorporation, amendment,...

Sec. 10.15.570. Declaration of public policy that cooperatives are not in restraint of trade. - It is the public policy of the state to encourage...

Sec. 10.15.575. Use of term “cooperative”. - (a) A person other than a cooperative association incorporated under...

Sec. 10.15.578. Distinguishable name. - The name of a cooperative association must be distinguishable on...

Article 9. General Provisions.

Sec. 10.15.580. Powers of department. - The department has the power and authority reasonably necessary to...

Sec. 10.15.585. Application of chapter. - This chapter applies to the fullest extent permitted by the...

Sec. 10.15.590. Effect of amendment or repeal of chapter. - This chapter may be amended, repealed, or modified, but an...

Sec. 10.15.595. Definitions. - In this chapter, unless the context otherwise requires, (1) “articles”...

Sec. 10.15.600. Short title. - This chapter may be cited as the Alaska Cooperative Corporation...

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Alaska Statutes Title 10. Corporations and Associations Chapter 15. Alaska Cooperative Corporation Act

Alaska Statutes
Title 10. Corporations and Associations
Chapter 15. Alaska Cooperative Corporation Act