Sec. 10.06.643. Appointment of receiver: application, hearing and notice, security, qualifications, powers, compensation.

201 words·~1 min read·/ak/title-10/chapter-6/10-06-643

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

(a)If, at the time of the filing of a complaint for involuntary dissolution under AS 10.06.628 or at any time after the filing, the court has reasonable grounds to believe that unless a receiver of the corporation is appointed the interests of the corporation and its shareholders will suffer pending the hearing and determination of the complaint, upon the application of the plaintiff and after a hearing upon notice to the corporation as the court may direct, the court may appoint a receiver to take over and manage the business and affairs of the corporation and to preserve its property pending the hearing and determination of the complaint for dissolution.

(b)A receiver shall be a citizen of the United States or a corporation authorized to act as receiver. A corporate receiver may be a domestic corporation or a foreign corporation authorized to transact business in the state. A receiver shall give bond and provide sureties as the court may require.

(c)The compensation of the receiver shall be paid out of the assets of the corporation and unless otherwise agreed shall be fixed by the court.