Alaska Statutes 10.06.554 – Merger of subsidiary corporation
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Terms Used In Alaska Statutes 10.06.554
- 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.
- shares: means the units into which the proprietary interests in a corporation are divided. See Alaska Statutes 10.06.990
- vote: includes authorization by written consent subject to the provisions of Alaska Stat. See Alaska Statutes 10.06.990
A corporation owning at least 90 percent of the outstanding shares of each class of another corporation may merge the other corporation into itself without approval by a vote of the shareholders of either corporation.