Alaska § 10.50.145 - Loans to managers, managing members, and employees.
Full text of Alaska Alaska Statutes § 10.50.145 — Loans to managers, managing members, and employees., with citation guidance and answers to common questions.
§ 10.50.145. Loans to managers, managing members, and employees.
(a) A loan may not be extended by a limited liability company to an employee without authorization by the company's managers or managing members. A loan may not be extended to a manager or a managing member of a limited liability company without the approval of two-thirds of the company's members. An employee who is also a manager or managing member is considered a manager or managing member for purposes of this section. A member is not disqualified from voting on a loan to a member as a manager or managing member because of personal interest.
(b) A loan to a manager, managing member, or employee and a loan secured by the limited liability company interests of the company may not be made unless the loan would be permissible as a distribution under AS 10.50.290 — 10.50.345. A loan under this subsection impairs the retained earnings or paid-in capital accounts to the extent of the loan.
(c) For purposes of this section, a loan may consist of cash, securities, or personal or real property.
(d) If a limited liability company acts as a guarantor on a loan to a manager, managing member, or employee, the guarantee is treated as a loan under this section.
(e) A manager, managing member, or employee of an affiliated limited liability company is a manager, managing member, or employee of the lending company for purposes of this section.
(f) A loan is to be judged by the duties of managers and managing members to act in good faith in a manner reasonably believed to be in the best interests of the company and with the care, including reasonable inquiry, that an ordinarily prudent person in a like position would use under similar circumstances.
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 10.50.145
What does Alaska Statutes § 10.50.145 cover?
Section 10.50.145 ("Loans to managers, managing members, and employees.") 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 § 10.50.145?
A common citation format is "Alaska Statutes § 10.50.145" (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 § 10.50.145 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.