Alaska Statutes 10.20.007 – Corporations organized under Alaska Native Claims Settlement Act
Current as of: 2023 | Check for updates
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Terms Used In Alaska Statutes 10.20.007
- 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.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
A village corporation organized under 43 U.S.C. § 1601 et seq. (Alaska Native Claims Settlement Act) may be incorporated under and subject to this chapter except the name of the corporation may not contain the word “village” or otherwise imply that the corporation is a municipal corporation; however, the name of a village may be used in the corporate name.