Section 10.06.220. Liability for acting as nonexistent corporation.

Latest version.

   (a) Except as provided in (b) of this section persons who assume to act as a corporation for which there has been no issuance of a certificate of incorporation under AS 10.06.218 are jointly and severally liable for debts and liabilities incurred or arising as a result of that action.
   (b) The terms of a written contract between a third party and persons acting on behalf of a corporation for which there has been no issuance of a certificate of incorporation may modify or preclude the liability created by this section.
   (c) An oral promise, agreement or understanding is not effective to modify or preclude the liability created in (a) of this section.

Notes

History

(Sec. 1 ch 166 SLA 1988)

                    
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