Alaska Statutes 10.20.700 – Unauthorized assumption of corporate powers
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Terms Used In Alaska Statutes 10.20.700
- action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
- 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.
Persons who assume to act as a corporation without authority are jointly and severally liable for debts and liabilities incurred or arising as a result of that action.