Section 10.06.349. Shares without certificates.

Latest version.

   (a) Unless the articles or bylaws provide otherwise, the board of directors may authorize the issuance without certificates of some or all of the corporation's classes or series of shares. The authorization does not affect shares that are already represented by certificates until the certificates are surrendered to the corporation.
   (b) Within a reasonable time after the issuance or transfer of shares without certificates, the corporation shall send the shareholder a written statement giving the information required by AS 10.06.350 to be on certificates, and, if applicable, the information required by AS 10.06.424(c) to be disclosed to the shareholder when there is no certificate.

Authorities

10.06.348;10.06.424

Notes

References

AS 10.06.348 Certificates representing shares.
AS 10.06.424 Shareholder agreements.

History

(Sec. 8 ch 82 SLA 1989)

                    
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