Statutes, codes, and regulations
Alaska Statutes
Title 10 - CORPORATIONS AND ASSOCIATIONSChapter 10.15 - ALASKA COOPERATIVE CORPORATION ACT
Article 01 - SUBSTANTIVE PROVISIONS
Section 10.15.100 - Recall, acquisition, exchange, redemption, and reissuance of stock or other evidence of equity

Alaska Stat. § 10.15.100

Download
PDF
Current through Chapter 26 of the Legislative Session (excluding Chapter 21)
Section 10.15.100 - Recall, acquisition, exchange, redemption, and reissuance of stock or other evidence of equity

Unless the articles provide otherwise, a cooperative may recall membership stock upon termination of membership, and acquire, exchange, redeem, and reissue its own shares or other evidences of equity. The consideration paid for shares of membership stock recalled by the cooperative shall be the par value of the shares plus accrued and unpaid dividends, if any. However, if the shares have no par value the consideration paid shall be the consideration in dollars for which the shares were issued plus accrued and unpaid dividends. The cooperative may set off obligations to it of the holder of membership stock or other evidence of equity.

AS 10.15.100