Alaska Statutes
Alaska Stat. § 10.06.305 (2026)
Issuance of and requirements for shares
✓ current as of July 2026
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Sec. 10.06.305. Issuance of and requirements for shares.
(a) Subject to the provisions of this chapter, a corporation may issue one or more classes or series of shares or both, with full, limited, or no voting rights and with other rights, preferences, privileges, and restrictions as are stated or authorized in its articles of incorporation. A denial or limitation of voting rights is not effective unless at the time one or more classes or series of outstanding shares or debt securities, singly or in the aggregate, are entitled to full voting rights. A denial or limitation of dividend or liquidation rights is not effective unless at the time one or more classes or series of outstanding shares, singly or in the aggregate, are entitled to unlimited dividend or liquidation rights.
(b) All shares of a class shall have the same voting, conversion, and redemption rights and other rights, preferences, privileges, and restrictions, unless the class is divided into series. If a class is divided into series, all the shares of a series shall have the same voting, conversion, and redemption rights and other rights, preferences, privileges, and restrictions.
(a) Subject to the provisions of this chapter, a corporation may issue one or more classes or series of shares or both, with full, limited, or no voting rights and with other rights, preferences, privileges, and restrictions as are stated or authorized in its articles of incorporation. A denial or limitation of voting rights is not effective unless at the time one or more classes or series of outstanding shares or debt securities, singly or in the aggregate, are entitled to full voting rights. A denial or limitation of dividend or liquidation rights is not effective unless at the time one or more classes or series of outstanding shares, singly or in the aggregate, are entitled to unlimited dividend or liquidation rights.
(b) All shares of a class shall have the same voting, conversion, and redemption rights and other rights, preferences, privileges, and restrictions, unless the class is divided into series. If a class is divided into series, all the shares of a series shall have the same voting, conversion, and redemption rights and other rights, preferences, privileges, and restrictions.
Notes of Decisions
Cited in 6
cases (1 in the last 5 years), 1996–2021 · leading case: Demmert v. Kootznoowoo, Inc., 960 P.2d 606 (Alaska 1998).
Demmert v. Kootznoowoo, Inc., 960 P.2d 606 (Alaska 1998). “The complaint contained five substantive causes of action: first, that the payments were discriminatory dividends in violation of AS 10.06.305(b) and AS 10.06.313; second, that the payments de facto created a class of preferred shares without the preferences being specified in…”
Demmert v. Kootznoowoo, Inc., 45 P.3d 1208 (Alaska 2002). “" Thus Kootznoowoo's operation of its longshoring program treats corporate shares in a discriminatory manner, violating the corporation's contract with its shareholders, as well as the Equal Treatment Rule codified in AS 10.06.305, -.308, and -.313, [3] applicable to the Alaska…”
Comsult LLC v. Girdwood Mining Co., 397 P.3d 318 (Alaska 2017). “542(a) ("[A]ll shares of the same class or series shall be treated equally with respect to a distribution of shares, cash, property, rights, or securities in any plan of merger, consolidation, or share exchange.”
Henrichs v. Chugach Alaska Corp., 260 P.3d 1036 (Alaska 2011). “, AS 10.06.305(b), .313, .542. 29 . AS 10.06.”
Broad v. Sealaska Corp., 85 F.3d 422 (9th Cir. 1996). “Alaska Stat. § 10.06.305 (b). Both parties agree that the EST discriminates against shareholders who have not yet reached age sixty-five.”
Adams v. Kake Tribal Corp. (D. Alaska 2021). “405, which requires corporations to hold annual shareholder meetings; and AS 10.06.305(b), 10.06.313, and 10.06.542(a), which generally require equal treatment for similar shares of a stock class.”
— Alaska Stat. § 10.06.305(b) — 5 cases
Demmert v. Kootznoowoo, Inc., 960 P.2d 606 (Alaska 1998). “The complaint contained five substantive causes of action: first, that the payments were discriminatory dividends in violation of AS 10.06.305(b) and AS 10.06.313; second, that the payments de facto created a class of preferred shares without the preferences being specified in…”
Comsult LLC v. Girdwood Mining Co., 397 P.3d 318 (Alaska 2017). “542(a) ("[A]ll shares of the same class or series shall be treated equally with respect to a distribution of shares, cash, property, rights, or securities in any plan of merger, consolidation, or share exchange.”
Demmert v. Kootznoowoo, Inc., 45 P.3d 1208 (Alaska 2002). “" Thus Kootznoowoo's operation of its longshoring program treats corporate shares in a discriminatory manner, violating the corporation's contract with its shareholders, as well as the Equal Treatment Rule codified in AS 10.06.305, -.308, and -.313, [3] applicable to the Alaska…”
Henrichs v. Chugach Alaska Corp., 260 P.3d 1036 (Alaska 2011). “, AS 10.06.305(b), .313, .542. 29 . AS 10.06.”
Adams v. Kake Tribal Corp. (D. Alaska 2021). “405, which requires corporations to hold annual shareholder meetings; and AS 10.06.305(b), 10.06.313, and 10.06.542(a), which generally require equal treatment for similar shares of a stock class.”
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