Sec. 10.45.210. Disposal of shares of legally disqualified shareholder.
A professional corporation may provide in its articles of incorporation that the shares of a legally disqualified shareholder may be sold only to other shareholders or licensed persons of the same profession, or it may provide for the purchase, redemption, or retirement of the shares by the corporation out of capital as well as surplus […]
Sec. 10.45.220. Shares of deceased shareholder.
(a) A professional corporation may provide for the disposal of the shares of a deceased shareholder in its articles of incorporation or bylaws, or its shareholders may provide for their disposal by private agreement. If there is no provision or private agreement, the shares shall first be offered for sale to the remaining shareholders by […]
Sec. 10.45.230. Determination of value of shares.
If the articles of incorporation or bylaws of a professional corporation do not provide a price or method of determining a price at which the corporation may purchase, redeem, or retire the shares, or that its shareholders may purchase the shares of a deceased shareholder or a shareholder no longer qualified to own shares in […]
Sec. 10.45.240. Applicability of Alaska Corporations Code and Alaska Entity Transactions Act.
The Alaska Corporations Code, including the provision in AS 10.06.595 that allows, with exceptions, corporations to enter into mergers, interest exchanges, conversions, and domestications under AS 10.55 (Alaska Entity Transactions Act), is applicable to professional corporations, and they enjoy the powers and privileges and are subject to the duties, restrictions, and liabilities of other corporations, […]
Sec. 10.45.500. Definitions.
In this chapter, (1) “employee” means a licensed person employed by a professional corporation to render the type of professional service for which the corporation was organized; (2) “professional corporation” means a corporation organized under this chapter to render a professional service; (3) “professional person” means a person licensed to render a professional service; (4) […]
Sec. 10.45.510. Short title.
This chapter may be cited as the Professional Corporation Act.
Sec. 10.45.100. Voting trust prohibited.
A voting trust may not be formed to vote the shares of a professional corporation.
Sec. 10.45.110. Holding stock, merging or consolidating with another professional corporation.
A professional corporation may not hold stock in another professional corporation, or merge or consolidate with a foreign professional corporation.
Sec. 10.45.120. Corporate name.
(a) The corporate name of a professional corporation shall contain the last name of one or more of its shareholders, unless the regulations of a particular regulating board or the ethics of a profession permit the use of a corporate name which does not include the surname of any present or former shareholder. The corporate […]
Sec. 10.45.130. Change or alteration of corporate name.
When a person whose name is part of a corporate name ceases to be a shareholder, the corporation shall alter its name to reflect this change; however, a professional corporation may retain the name of a retired or deceased shareholder in its corporate name if the regulations of a particular regulating board or the ethics […]