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- Alaska Statutes.
- Title 10. Corporations and Associations
- Chapter 6. Alaska Corporations Code
- Section 668. Provision For Payment of Debt or Liability.
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. Distribution of Corporate Assets Among Shareholders or Other Persons; When to Be Made.
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. Distribution in Money, Property, or Securities; Installments.
AS 10.06.668. Provision For Payment of Debt or Liability.
The payment of a debt or liability, whether the whereabouts of the creditor is known or unknown, has been adequately
provided for if
- (1) payment of the debt or liability has been assumed or guaranteed in good faith by one or more financially responsible
corporations or other persons or by the United States government or an agency of the United States, and the provision
was determined in good faith and with reasonable care by the board to be adequate at the time of distribution of the
assets by the board under AS 10.06.605
- 10.06.678; or
- (2) the amount of the debt or liability has been deposited as provided in AS 10.06.653
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