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AS 10.06.905

Voting of shares; quorum; status of disqualified shares

Known as the Alaska Corporations Code

The act spans §§ 10–10 (251 sections).

(a) If the articles of incorporation provide for more or less than one vote for a share on a matter, a reference in this chapter to a majority or other proportion of shares means a majority or other proportion of the votes entitled to be cast on that matter. If shares are disqualified from voting on a matter, they may not be considered outstanding for the determination of a quorum at a meeting to act upon or for the required vote to approve action upon that matter.

(b) A requirement in this chapter for a vote of each class of outstanding shares means a vote regardless of limitations or restrictions upon the voting rights of that class, unless expressly limited to voting shares.

Official source: Alaska State Legislature. Reproduced from public-domain Alaska statutes; confirm against the official source for the current text. Not legal advice.