Section 10.06.668. Provision for payment of debt or liability.

Latest version.

The payment of a debt or liability, whether the whereabouts of the creditor is known or unknown, has been adequately provided for if
        (1) payment of the debt or liability has been assumed or guaranteed in good faith by one or more financially responsible corporations or other persons or by the United States government or an agency of the United States, and the provision was determined in good faith and with reasonable care by the board to be adequate at the time of distribution of the assets by the board under AS 10.06.605 - 10.06.678; or
        (2) the amount of the debt or liability has been deposited as provided in AS 10.06.653.

Authorities

10.06.620

Notes

References

AS 10.06.620 Articles of dissolution: contents.

History

(Sec. 1 ch 166 SLA 1988)

                    
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