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- Alaska Statutes.
- Title 10. Corporations and Associations
- Chapter 13. Alaska Bidco Act
- Section 190. General Powers.
previous: Section 180
. Business of Licensee.
next: Section 200
. Financing Assistance Form, Terms, and Conditions.
AS 10.13.190. General Powers.
In addition to the other powers given by this chapter and the powers conferred on the licensee by the laws under which
it is incorporated that are not inconsistent with this chapter, a licensee may
- (1) borrow money and otherwise incur indebtedness for the licensee's purposes, including the issuing of corporate bonds,
debentures, notes, and other evidence of indebtedness; a licensee's indebtedness may be secured or unsecured, and may
involve equity features, including provisions for conversion to stock and warrants to purchase stock;
- (2) make contracts;
- (3) incur and pay necessary and incidental operating expenses;
- (4) purchase, receive, hold, lease, acquire, sell, convey, mortgage, pledge, or otherwise acquire or dispose of real or
personal property, and the rights and privileges that are incidental and appurtenant to the transactions, if the real
or personal property is for the licensee's use in operating the licensee's business or if the real or personal property
is acquired by the licensee from time to time in satisfaction of debts or the enforcement of obligations;
- (5) make donations for charitable, educational, research, or similar purposes;
- (6) provide financing assistance and management assistance to businesses and establish the terms and conditions of the
- (7) implement a reasonable and prudent policy for conserving and investing the licensee's money before the money is used
to provide financing assistance to businesses or to pay the expenses of the licensee;
- (8) exercise the incidental powers that are necessary, convenient, or reasonably related to providing financing assistance
and management assistance to businesses.
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