Alaska § 10.50.425 - Distribution of assets.
Full text of Alaska Alaska Statutes § 10.50.425 — Distribution of assets., with citation guidance and answers to common questions.
§ 10.50.425. Distribution of assets.
Upon the winding up of a limited liability company, the assets of the company shall be distributed in the following manner and order of priority: (1) payment, or adequate provision for payment, to creditors, including, to the extent permitted by law, members who are creditors and not covered by (2) of this section, in satisfaction of the liabilities of the company;
(2) unless otherwise provided in an operating agreement of the company, payment to members or former members in satisfaction of the company's liabilities for distributions under AS 10.50.295 — 10.50.330;
(3) unless otherwise provided in an operating agreement of the company, to members and former members in the following order of priority: (A) for the return of their contributions; and
(B) in proportion to the members' respective rights to share in distributions from the company before dissolution.
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 10.50.425
What does Alaska Statutes § 10.50.425 cover?
Section 10.50.425 ("Distribution of assets.") 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 § 10.50.425?
A common citation format is "Alaska Statutes § 10.50.425" (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 § 10.50.425 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.