Alaska Statutes Title 10. Corporations and Associations § 10.50.425. Distribution of assets

(1) payment, or adequate provision for payment, to creditors, including, to the extent permitted by law, members who are creditors and not covered by (2) of this section, in satisfaction of the liabilities of the company;

(2) unless otherwise provided in an operating agreement of the company, payment to members or former members in satisfaction of the company's liabilities for distributions under AS 10.50.295--10.50.330;

(3) unless otherwise provided in an operating agreement of the company, to members and former members in the following order of priority: