Alaska § 10.06.438 - Liability of shareholders, subscribers, and others arising out of shares.
Full text of Alaska Alaska Statutes § 10.06.438 — Liability of shareholders, subscribers, and others arising out of shares., with citation guidance and answers to common questions.
§ 10.06.438. Liability of shareholders, subscribers, and others arising out of shares.
(a) A holder of or subscriber to shares of a corporation is under no obligation to the corporation or its creditors as holder or subscriber with respect to the shares other than the obligation to pay the corporation the full consideration for which the shares were issued or to be issued.
(b) An assignee or transferee of shares, or of a subscription for shares, in good faith and without knowledge or notice that the full consideration has not been paid, is not personally liable to the corporation or its creditors for any unpaid portion of the consideration.
(c) An executor, administrator, conservator, guardian, trustee, assignee for the benefit of creditors, or receiver is not personally liable to the corporation or its creditors for any unpaid portion of the consideration.
(d) A pledgee or other holder of shares as collateral security is not personally liable as a shareholder.
Article 6. Directors, Officers, Employees, and Agents.
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 10.06.438
What does Alaska Statutes § 10.06.438 cover?
Section 10.06.438 ("Liability of shareholders, subscribers, and others arising out of shares.") is part of the Alaska Statutes, the codified statutory law of Alaska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alaska § 10.06.438?
A common citation format is "Alaska Statutes § 10.06.438" (Alaska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alaska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alaska official source linked on this page or consult a licensed Alaska attorney.
How does Alaska § 10.06.438 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alaska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alaska.