Alaska Statutes Title 10. Corporations and Associations § 10.06.325. Redemption of shares; creation of sinking fund; repurchase agreements

(a) A corporation may provide in the articles of incorporation for one or more classes or series of

(b) Notwithstanding the other provisions of this section, an open-end investment company registered under the United States Investment Company Act of 1940  1 may, if its articles of incorporation so provide, issue shares that are redeemable at the option of the holder at a price approximately equal to the shares' proportionate interest in the net assets of the corporation, and a shareholder may compel redemption of the shares in accordance with their terms.

(c) Nothing in this section prevents a corporation from creating a sinking fund or similar provision or entering into an agreement for the redemption or purchase of its shares to the extent permitted by this chapter.

(d) Except as provided by AS 10.06.385, a redemption of shares shall be made at the price, within the time, and upon the terms and conditions stated in the articles. When the articles permit a partial redemption of a class or series of shares, the articles must prescribe the method of selecting the shares to be redeemed. The method of selection may be

(e) Notwithstanding the provisions of AS 10.06.375, a corporation may not issue redeemable shares unless the shares are redeemable as provided in this section.