Advertising with us can place you in front of thousands of visitors a day. Learn more!
- Alaska Statutes.
- Title 10. Corporations and Associations
- Chapter 6. Alaska Corporations Code
- Section 420. Voting of Shares.
previous: Section 418
next: Section 421
. Corporation's Acceptance of Certain Documents.
AS 10.06.420. Voting of Shares.
- (a) An outstanding share, regardless of class, is entitled to one vote on each matter submitted to a vote at a meeting of
shareholders, except as may be otherwise provided in the articles of incorporation. If the articles provide for more or
less than one vote for any share, on any matter, every reference in this chapter to a majority or other proportion of
shares shall refer to a majority or other proportion of the votes entitled to be cast.
- (b) Shares held by the corporation, or shares held by another corporation if a majority of the shares entitled to vote for
the election of directors of the other corporation is held by the corporation, may not be voted at a meeting or counted
in determining the total number of outstanding shares at a given time.
- (c) A shareholder may vote in person, by proxy executed in writing by the shareholder or by the authorized
attorney-in-fact of the shareholder, or by proxy executed by electronic transmission by the shareholder or by the
authorized attorney-in-fact of the shareholder. A proxy executed by electronic transmission must
- (1) be directed to the person who will be the holder of the proxy or to a proxy solicitation firm, proxy support service
organization, or similar agent that is authorized by the person who will be the holder of the proxy to receive the
- (2) include information that demonstrates that the shareholder authorized the transmission.
- (d) Unless the articles of incorporation provide otherwise, at an election for directors each shareholder entitled to vote
at the election may vote, in person or by proxy, the number of shares owned by the shareholder for as many persons as
there are directors to be elected and for whose election the shareholder has a right to vote, or to cumulate votes by
giving one candidate votes equal to the number of directors multiplied by the number of shares of the shareholder, or
by distributing votes on the same principle among any number of candidates. The rights created by this subsection may
not be limited by amendment to the articles when the votes cast against the amendment would be sufficient to elect one
director if voted cumulatively at an election of the entire board.
- (e) Except as prohibited in this subsection, shares standing in the name of another corporation may be voted by the
officer, agent, or proxy as the bylaws of the other corporation may prescribe, or, in the absence of a provision, as
the board of the other corporation may determine. The shares of a corporation may not be voted if they are owned,
directly or indirectly, by a second corporation, domestic or foreign, and the first corporation owns, directly or
indirectly, a majority of the shares entitled to vote for the directors of the second corporation.
- (f) Shares held by an administrator, executor, guardian, or conservator may be voted by that person, either in person or
by proxy, without a transfer of the shares into the name of that person. Shares standing in the name of a trustee may
be voted by the trustee, either in person or by proxy, but a trustee is not entitled to vote shares held by the trustee
without a transfer of the shares into the name of the trustee.
- (g) Shares standing in the name of a receiver may be voted by the receiver, and shares held by or under the control of a
receiver may be voted by the receiver without a transfer of the shares into the name of the receiver if authority to
transfer the shares is contained in an appropriate court order by which the receiver was appointed.
- (h) A shareholder whose shares are pledged is entitled to vote the shares until the shares have been transferred into the
name of the pledgee, and thereafter the pledgee is entitled to vote the shares so transferred.
- (i) Beginning on the date on which written notice of redemption of redeemable shares has been mailed to the holders of the
shares and a sum sufficient to redeem the shares has been deposited with a bank or trust company with irrevocable
instruction and authority to pay the redemption price to the holders of the shares upon surrender of the certificates
for the shares or the uncertificated shares, the shares may not vote on any matter and are not considered to be
- (j) If a corporation adopts rules to provide for voting by proxy executed by electronic transmission, the rules must
provide that all legally qualified proxies may be voted in the same manner as the corporation's proxy.
All content © 2008 by Touch
N' Go/Bright Solutions, Inc.
Note to HTML Version:
This version of the Alaska Statutes is current through December, 2007. The Alaska Statutes were automatically converted to HTML from a plain text format. Every effort has been made to ensure their accuracy, but this can not be guaranteed. If it is critical that the precise terms of the Alaska Statutes be known, it is recommended that more formal sources be consulted. For statutes adopted after the effective date of these statutes, see, Alaska State Legislature
If any errors are found, please e-mail Touch N' Go systems at E-mail. We
hope you find this information useful.