(a) The number of directors of a corporation shall be at least three. The number of directors shall be fixed by the bylaws, except that the number constituting the initial board of directors shall be fixed by the articles of incorporation.
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Terms Used In Alaska Statutes 10.20.086

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • articles of incorporation: means the original or restated articles of incorporation or articles of consolidation and all amendments to them, including articles of merger. See Alaska Statutes 10.20.920
  • board of directors: means the group of persons vested with the management of the affairs of the corporation irrespective of the name by which the group is designated. See Alaska Statutes 10.20.920
  • bylaws: means the code or codes of rules adopted for the regulation or management of the affairs of the corporation irrespective of the name or names by which the rules are designated. See Alaska Statutes 10.20.920
  • 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.
(b) The number of directors may be increased or decreased from time to time by amendment to the bylaws, but a decrease may not have the effect of shortening the term of an incumbent director.
(c) In the absence of a bylaw fixing the number of directors, the number shall be the same as that stated in the articles of incorporation.
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