Alaska § 10.20.360 - Action by members for liquidation.
Full text of Alaska Alaska Statutes § 10.20.360 — Action by members for liquidation., with citation guidance and answers to common questions.
§ 10.20.360. Action by members for liquidation.
In an action by a member, the superior court may liquidate the assets and business of a corporation when it is established that (1) the directors are deadlocked in the management of the corporate affairs, the members are unable to break the deadlock, and irreparable injury to the corporation is being suffered or is threatened by reason of the deadlock;
(2) the acts of the directors or those in control of the corporation are illegal, oppressive, or fraudulent;
(3) the members are deadlocked in voting power, and have failed, for a period which includes at least two consecutive annual meeting dates, to elect successors to directors whose terms have expired or would have expired upon the election of their successors; or
(4) the corporate assets are being misapplied or wasted.
Frequently Asked Questions About Alaska § 10.20.360
What does Alaska Statutes § 10.20.360 cover?
Section 10.20.360 ("Action by members for liquidation.") 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 § 10.20.360?
A common citation format is "Alaska Statutes § 10.20.360" (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 § 10.20.360 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.