Sec. 10.06.660. Powers and duties of directors and others in dissolution proceedings.

284 words·~1 min read·/ak/title-10/chapter-6/10-06-660

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

The powers and duties of the directors or other persons appointed by the court under AS 10.06.648 and officers after commencement of a dissolution proceeding include, but are not limited to, the following acts in the name and on behalf of the corporation:

(1)to elect officers and to employ agents and attorneys to liquidate or wind up the affairs of the corporation;

(2)to continue the conduct of the business insofar as necessary for the disposal or winding up of the business;

(3)to carry out contracts and collect, pay, compromise, and settle debts and claims for or against the corporation;

(4)to defend suits brought against the corporation;

(5)to sue, in the name of the corporation, for sums due or owing to the corporation or to recover property of the corporation;

(6)to collect amounts remaining unpaid on subscriptions to shares or to recover unlawful distributions;

(7)to sell at public or private sale, exchange, convey, or otherwise dispose of all or any part of the assets of the corporation for cash in an amount considered reasonable by the board with or without compliance with the provisions of AS 10.06.568 and 10.06.570 and without dissenters' rights ( AS 10.06.574 — 10.06.582) and upon terms, conditions, and other considerations the board considers reasonable or expedient;

(8)to execute bills of sale and deeds of conveyance in the name of the corporation;

(9)in general to make contracts and to do any and all things in the name of the corporation that may be proper or convenient for the purposes of winding up, settling, and liquidating the affairs of the corporation.