Alaska Statutes 10.06.360 – Prohibited distribution; inability to meet maturing liabilities
Current as of: 2023 | Check for updates
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Terms Used In Alaska Statutes 10.06.360
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
A corporation or subsidiary of a corporation may not make a distribution to the corporation’s shareholders if the corporation or the subsidiary making the distribution is, or as a result of the distribution would be, likely to be unable to meet its liabilities as they mature.