Alaska Statutes.
Title 10. Corporations and Associations
Chapter 15. Alaska Cooperative Corporation Act
Section 100. Recall, Acquisition, Exchange, Redemption, and Reissuance of Stock or Other Evidence of Equity.
previous: Section 95. Dividends On Capital Stock.
next: Section 105. Limitations On Acquisition, Recall, or Redemption.

AS 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 stock upon termination of membership, and acquire, exchange, redeem, and reissue its own shares or other evidences of equity. The consideration paid for shares of membership stock recalled by the cooperative shall be the par value of the shares plus accrued and unpaid dividends, if any. However, if the shares have no par value the consideration paid shall be the consideration in dollars for which the shares were issued plus accrued and unpaid dividends. The cooperative may set off obligations to it of the holder of membership stock or other evidence of equity.

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.