Section 10.06.025. Contracts or conveyances binding domestic and foreign corporations.

Latest version.

   (a) A contract or conveyance made in the name of the corporation that is authorized or ratified by the board, or is done within the scope of the authority, actual or apparent, conferred by the board or within the agency power of the officers executing it, except as the board's authority is limited by law, binds the corporation, and the corporation acquires rights under the contract, whether the contract is executed or is wholly or in part executory.
   (b) This section applies to contracts and conveyances made by foreign corporations in this state and to conveyances by foreign corporations of real property situated in this state.

Authorities

10.06.020

Notes

References

AS 10.06.020 Limitations on powers of shareholders, officers, and directors.

History

(Sec. 1 ch 166 SLA 1988; am Sec. 2 ch 82 SLA 1989)

                    
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