Alaska Statutes 10.25.390 – Disposition of property to secure indebtedness
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Terms Used In Alaska Statutes 10.25.390
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- property: includes real and personal property. See Alaska Statutes 01.10.060
The board of directors of a cooperative may, without authorization by the members of the cooperative, authorize the execution and delivery of mortgages or deeds of trust of, or the pledging or encumbering of, the property, assets, rights, privileges, licenses, franchises and permits of the cooperative, whether acquired or to be acquired, and wherever situated, as well as the revenue therefrom, upon the terms and conditions the board of directors determines, to secure an indebtedness of the cooperative.