When shares are acquired, recalled, exchanged or redeemed by the cooperative, they are restored to the status of authorized but unissued shares.
AS 10.15.110
Status of acquired, recalled, exchanged, or redeemed shares
Known as the Alaska Cooperative Corporation Act
The act spans §§ 10–10 (121 sections).
Official source: Alaska State Legislature. Reproduced from public-domain Alaska statutes; confirm against the official source for the current text. Not legal advice.