Sec. 10.55.109. Dissenters' rights.

208 words·~1 min read·/ak/title-10/chapter-55/10-55-109

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)An interest holder of a domestic merging, acquired, converting, or domesticating entity is entitled to dissenters' rights in connection with the transaction if the interest holder would have been entitled to dissenters' rights under the entity's organic law in connection with a merger in which the interest of the interest holder was changed, converted, or exchanged unless

(1)the organic law permits the organic rules to limit the availability of dissenters' rights; and

(2)the organic rules provide the limit described in

(1)of this subsection.

(b)An interest holder of a domestic merging, acquired, converting, or domesticating entity is entitled to contractual dissenters' rights in connection with a transaction under this chapter to the extent provided

(1)in the entity's organic rules;

(2)in the plan; or

(3)in the case of a business corporation, by action of its governors.

(c)If an interest holder is entitled to contractual dissenters' rights under

(b)of this section and the entity's organic law does not provide procedures for the conduct of a dissenters' rights proceeding, the interest holder is entitled to use the procedures established under AS 10.06.576 as if the interest holder were a dissenting shareholder of a corporation under AS 10.06 .