reglab/housing_qa huggingface dataset:
AK Stat § 10.15.055 (2021)
2021 Alaska Statutes|Title 10. Corporations and Associations|Chapter 15. Alaska Cooperative Corporation Act|Article 1. Substantive Provisions.|Sec. 10.15.055. Transfer of stock.

Unless restricted by the articles, stock other than membership stock may be issued or transferred without limitation.
AK Stat § 10.15.060 (2021)
2021 Alaska Statutes|Title 10. Corporations and Associations|Chapter 15. Alaska Cooperative Corporation Act|Article 1. Substantive Provisions.|Sec. 10.15.060. Payment required for issuance.

A stock certificate may not be issued except upon payment of the par value of the shares it represents if the shares have par value, or if the shares are without par value, upon payment of the consideration for the shares expressed in dollars as fixed for the shares by the board. Payment for shares may be in cash or other tangible or intangible property. If payment is made in property other than cash, the value of the property shall be determined by the board. The determination, if made in good faith, is conclusive.
AK Stat § 10.15.065 (2021)
2021 Alaska Statutes|Title 10. Corporations and Associations|Chapter 15. Alaska Cooperative Corporation Act|Article 1. Substantive Provisions.|Sec. 10.15.065. No preemptive right to new issues.

Shareholders have no preemptive right to purchase additional shares.
AK Stat § 10.15.070 (2021)
2021 Alaska Statutes|Title 10. Corporations and Associations|Chapter 15. Alaska Cooperative Corporation Act|Article 1. Substantive Provisions.|Sec. 10.15.070. Certificates representing shares.

Each certificate of stock of a cooperative must bear the manual or facsimile signature of a principal officer and must include the following information: (1) the name of the cooperative, number and class of the shares represented by the certificate, the par value of each share or a statement that the shares are without par value, and if the shares are membership stock, that designation; (2) any restrictions on the issuance or transfer of the shares; (3) if more than one class of stock is authorized or if stock is authorized in a cooperative that requires a membership fee of its members, designation of the several classes of stock and the respective preferences, limitations, and relative rights of the classes; instead of a full statement, the information required by this paragraph may be given in summary form.
AK Stat § 10.15.075 (2021)
2021 Alaska Statutes|Title 10. Corporations and Associations|Chapter 15. Alaska Cooperative Corporation Act|Article 1. Substantive Provisions.|Sec. 10.15.075. Manner of voting by shareholders.

AS 10.06.420 relating to voting of shares in business corporations applies to shareholders of cooperatives and shares of the capital stock of cooperatives other than membership stock.
AK Stat § 10.15.080 (2021)
2021 Alaska Statutes|Title 10. Corporations and Associations|Chapter 15. Alaska Cooperative Corporation Act|Article 1. Substantive Provisions.|Sec. 10.15.080. Determining who are shareholders for purposes of notice, voting, and dividends.

For the purpose of determining shareholders entitled to notice of or to vote at meetings, or entitled to receive payment of a dividend, the bylaws may fix in advance a date as the record date for the determination of shareholders. The date shall be not more than 50 days and not less than 10 days prior to the date on which the particular action requiring the determination of shareholders is to be taken. If no record date is fixed by the bylaws, the date on which notice of the meeting is mailed or the date on which the resolution of the board of directors declaring the dividend is adopted, as the case may be, is the record date for the determination of shareholders. When a determination of shareholders entitled to vote at a meeting is made as provided in this section, the determination applies to any adjournment of that meeting.
AK Stat § 10.15.085 (2021)
2021 Alaska Statutes|Title 10. Corporations and Associations|Chapter 15. Alaska Cooperative Corporation Act|Article 1. Substantive Provisions.|Sec. 10.15.085. Subscription for shares.

A subscription for shares of a cooperative is irrevocable for six months unless otherwise provided by the subscription agreement, or unless all subscribers consent to the revocation.
AK Stat § 10.15.090 (2021)
2021 Alaska Statutes|Title 10. Corporations and Associations|Chapter 15. Alaska Cooperative Corporation Act|Article 1. Substantive Provisions.|Sec. 10.15.090. Limitation of liability of members.

Except for a debt lawfully contracted between a member and the cooperative, a member is not liable for the debts of the cooperative in an amount exceeding the sum remaining unpaid on the member's subscription for shares of the cooperative, and the sum remaining unpaid on the member's membership fee if a fee is required by the cooperative.
AK Stat § 10.15.095 (2021)
2021 Alaska Statutes|Title 10. Corporations and Associations|Chapter 15. Alaska Cooperative Corporation Act|Article 1. Substantive Provisions.|Sec. 10.15.095. Dividends on capital stock.

A cooperative organized with capital stock may pay the dividend upon capital stock authorized by its articles if its capital is not impaired and would not be impaired by the payment.
AK Stat § 10.15.100 (2021)
2021 Alaska Statutes|Title 10. Corporations and Associations|Chapter 15. Alaska Cooperative Corporation Act|Article 1. Substantive Provisions.|Sec. 10.15.100. Recall, acquisition, exchange, redemption, and reissuance of stock or other evidence of equity.

Unless the articles provide otherwise, a cooperative may recall membership stock upon termination of membership, and acquire, exchange, redeem, and reissue its own shares or other evidences of equity. The consideration paid for shares of membership stock recalled by the cooperative shall be the par value of the shares plus accrued and unpaid dividends, if any. However, if the shares have no par value the consideration paid shall be the consideration in dollars for which the shares were issued plus accrued and unpaid dividends. The cooperative may set off obligations to it of the holder of membership stock or other evidence of equity.
AK Stat § 10.15.105 (2021)
2021 Alaska Statutes|Title 10. Corporations and Associations|Chapter 15. Alaska Cooperative Corporation Act|Article 1. Substantive Provisions.|Sec. 10.15.105. Limitations on acquisition, recall, exchange, or redemption.

No acquisition, recall, or redemption of stock or other evidence of equity may be made if the result would be to bring the value of the remaining assets of the cooperative below the aggregate of its indebtedness. The articles may provide limitations on the right of a cooperative to acquire, recall, exchange, or redeem its shares or other evidences of equity.
AK Stat § 10.15.110 (2021)
2021 Alaska Statutes|Title 10. Corporations and Associations|Chapter 15. Alaska Cooperative Corporation Act|Article 1. Substantive Provisions.|Sec. 10.15.110. Status of acquired, recalled, exchanged, or redeemed shares.

When shares are acquired, recalled, exchanged or redeemed by the cooperative, they are restored to the status of authorized but unissued shares.
AK Stat § 10.15.115 (2021)
2021 Alaska Statutes|Title 10. Corporations and Associations|Chapter 15. Alaska Cooperative Corporation Act|Article 1. Substantive Provisions.|Sec. 10.15.115. Missing certificates or ownership records.

(a) When a certificate for a security issued by a cooperative is missing, the cooperative shall issue a duplicate certificate upon the request of the owner and upon the furnishing of the indemnity required by the cooperative. (b) When records showing ownership of securities are missing or if records upon which the apportionment of securities is based are missing, and in either case if the information which is missing is necessary to a proposed redemption of the securities, the cooperative may give notice and redeem the securities as follows: (1) the cooperative shall set aside an amount equal to the value of the securities to be redeemed; (2) the cooperative shall give notice of the redemption to all owners of securities of whom the cooperative has knowledge; (3) if the ownership of any securities is unknown to the cooperative, it shall publish notice of the redemption at least once a month for four months in a newspaper of general circulation in the judicial district in which the registered office of the cooperative is located; (4) after publication, unclaimed outstanding securities represented by the missing records may be terminated in accordance with the provisions of this chapter dealing with unclaimed distributions, redemptions or proceeds.
AK Stat § 10.15.120 (2021)
2021 Alaska Statutes|Title 10. Corporations and Associations|Chapter 15. Alaska Cooperative Corporation Act|Article 1. Substantive Provisions.|Sec. 10.15.120. Meetings of members.

(a) Meetings of members may be held either inside or outside the state as provided in the bylaws. In the absence of a bylaw provision, meetings shall be held at the principal place of business of the cooperative. (b) An annual meeting of the members shall be held at the time or within the time provided in the bylaws. If the bylaws do not fix a time for the meeting, the annual meeting shall be held in each calendar year at the time the board determines. Failure to hold the annual meeting at the designated time does not work a forfeiture or dissolution of the cooperative. (c) Special member meetings may be called by the president or the board. The secretary shall call a special meeting upon the filing of a petition stating the business to be brought before the meeting signed by not less than 10 percent of the members of the cooperative. (d) Written notice stating the place, day and hour, and in case of a special member meeting the purpose for which the meeting is called, shall be given to each member and each shareholder, if shareholders are entitled to vote at the meeting, either personally or by mail, not less than seven or more than 30 days before the meeting by direction of the person calling the meeting. If that notice is mailed, it is considered given when deposited in the United States mail addressed to the member or shareholder at the address of the member or shareholder as it appears on the records of the cooperative with postage prepaid. At a meeting at which the members are to be represented by delegates, notice to the members may be given by notifying the delegates and their alternates, if any.
AK Stat § 10.15.125 (2021)
2021 Alaska Statutes|Title 10. Corporations and Associations|Chapter 15. Alaska Cooperative Corporation Act|Article 1. Substantive Provisions.|Sec. 10.15.125. Districts and district meetings.

A cooperative may provide in its bylaws (1) for the formation of districts, and the holding of member meetings by districts and the holding of elections of directors at district meetings; and (2) that delegates may be elected at district meetings to represent their districts in annual and special meetings of the members. Notice of district meetings shall be given in the same manner as prescribed in AS 10.15.120 for member meetings.
AK Stat § 10.15.130 (2021)
2021 Alaska Statutes|Title 10. Corporations and Associations|Chapter 15. Alaska Cooperative Corporation Act|Article 1. Substantive Provisions.|Sec. 10.15.130. Voting by members.

(a) Each member has one vote except that bylaws may authorize voting according to actual, estimated or potential patronage, or a combination of these plans of voting. Shares of stock may not be given voting power except in the specific instances authorized by this chapter. (b) Members may not vote by proxy. However, a member that is a corporation, association or partnership may designate a representative to cast its vote. In the absence of written notice that a person has been designated to represent a member which is other than a natural person, the member may be represented by any of its principal officers. (c) If the bylaws of a cooperative provide for the formation of districts and the election of delegates at district meetings to represent their districts in member meetings, this representation is not considered voting by proxy. The delegates shall cast the votes to which members represented by them are entitled on those matters not covered by mail ballots submitted to all members. (d) If the bylaws so provide, the board may have submitted by mail ballot any question to be voted on at a member meeting, including the election of directors. In this event the secretary shall mail to each member, along with the notice of the meeting, the ballot on each question and a voting envelope. The ballot shall be cast in a sealed envelope authenticated by the member's signature. A vote cast by mail shall be counted as if the member were present and voting in person. (e) The bylaws may set forth provisions, not inconsistent with this chapter, relating to the methods and procedures for voting.
AK Stat § 10.15.135 (2021)
2021 Alaska Statutes|Title 10. Corporations and Associations|Chapter 15. Alaska Cooperative Corporation Act|Article 1. Substantive Provisions.|Sec. 10.15.135. Quorum of members.

Ten percent of voting members, in person or by proxy, if district delegates, constitute a quorum for an annual or special meeting unless the bylaws provide for a greater number.
AK Stat § 10.15.140 (2021)
2021 Alaska Statutes|Title 10. Corporations and Associations|Chapter 15. Alaska Cooperative Corporation Act|Article 1. Substantive Provisions.|Sec. 10.15.140. Qualifications and membership of board of directors.

(a) The board of directors shall manage the business and affairs of a cooperative. Each director shall be a member or a representative of a member who is not a natural person. Unless the bylaws otherwise provide, directors need not be residents of this state. The bylaws may prescribe other qualifications for directors and may provide that directors be from specified state districts. (b) The board of directors shall consist of at least three members. The number of directors shall be fixed or determined by the bylaws, except that the number constituting the initial board shall be fixed by the articles.
AK Stat § 10.15.145 (2021)
2021 Alaska Statutes|Title 10. Corporations and Associations|Chapter 15. Alaska Cooperative Corporation Act|Article 1. Substantive Provisions.|Sec. 10.15.145. Initial board of directors.

Directors constituting the initial board hold office until the first annual meeting of the members and until their successors are elected and take office.
AK Stat § 10.15.150 (2021)
2021 Alaska Statutes|Title 10. Corporations and Associations|Chapter 15. Alaska Cooperative Corporation Act|Article 1. Substantive Provisions.|Sec. 10.15.150. Election and terms of directors.

At the first annual meeting and at subsequent meetings, directors shall be elected by the members in the manner and for the term of office provided in the bylaws, but not to exceed three years. Each director shall enter immediately upon the discharge of the director's duties and, subject to resignation or removal, shall hold office for the term for which elected and until a successor takes office.
AK Stat § 10.15.155 (2021)
2021 Alaska Statutes|Title 10. Corporations and Associations|Chapter 15. Alaska Cooperative Corporation Act|Article 1. Substantive Provisions.|Sec. 10.15.155. Removal of directors.

A director may be removed upon a majority vote of all members voting in person at a member meeting. Before a vote for removal may be taken, written reasons for removal of the director shall be presented at a meeting of members and the director sought to be removed shall have an opportunity to answer the reasons at that meeting. The written statement of reasons for removal shall be filed with the minutes of the meeting. The bylaws may contain other provisions for the removal of a director consistent with the provisions of this section.
AK Stat § 10.15.160 (2021)
2021 Alaska Statutes|Title 10. Corporations and Associations|Chapter 15. Alaska Cooperative Corporation Act|Article 1. Substantive Provisions.|Sec. 10.15.160. Filling unexpired term.

Unless the bylaws provide otherwise, a vacancy in the board may be filled by the affirmative vote of a majority of the remaining directors though less than a quorum of the board. The director elected to fill a vacancy serves for the unexpired term of the director's predecessor in office.
AK Stat § 10.15.165 (2021)
2021 Alaska Statutes|Title 10. Corporations and Associations|Chapter 15. Alaska Cooperative Corporation Act|Article 1. Substantive Provisions.|Sec. 10.15.165. Meetings of board of directors.

(a) Regular or special meetings of the board may be held inside or outside the state. (b) Regular meetings of the board may be held with or without notice as prescribed in the bylaws. Special meetings of the board shall be held upon the notice prescribed in the bylaws. Attendance of a director at a meeting constitutes a waiver of notice of the meeting except where a director attends a meeting for the express purpose of objecting to the transaction of business because the meeting is not lawfully called or convened. (c) Unless the bylaws provide otherwise, the purpose of a meeting of the board need not be specified in the notice of the meeting. (d) Unless a greater number is required in the bylaws, a majority of the members of the board determined pursuant to the bylaws or in the absence of a bylaw fixing the number of directors, then of the number stated in the articles constitutes a quorum for the transaction of business. Unless a greater number is required in the bylaws, an act of the majority of the directors present at a meeting at which a quorum is present is the act of the board.
AK Stat § 10.15.170 (2021)
2021 Alaska Statutes|Title 10. Corporations and Associations|Chapter 15. Alaska Cooperative Corporation Act|Article 1. Substantive Provisions.|Sec. 10.15.170. Executive committee.

(a) If the bylaws provide, the board may elect an executive committee consisting of three or more directors which, to the extent provided in the bylaws of the cooperative, may exercise all the authority of the board in the management of the cooperative, except for (1) apportionment or distribution of net proceeds, savings or losses; (2) selection of officers; (3) filling of vacancies in the board or the executive committee. (b) The board may elect other directors as alternates for members of the executive committee. (c) Designation of an executive committee and the delegation to it of authority does not relieve the board or a member of the board of any responsibility imposed by law.
AK Stat § 10.15.175 (2021)
2021 Alaska Statutes|Title 10. Corporations and Associations|Chapter 15. Alaska Cooperative Corporation Act|Article 1. Substantive Provisions.|Sec. 10.15.175. Officers.

(a) The principal officers of a cooperative are a president, one or more vice presidents as prescribed in the bylaws, a secretary and a treasurer. The officers shall be elected annually by the board at the time and in the manner the bylaws provide. The offices of secretary and treasurer may be combined in one person. Each principal officer except the secretary and the treasurer, and one of the vice presidents if the bylaws provide for more than one, shall be a director of the cooperative. The manager of a cooperative may hold the office of vice president if more than one vice president is provided for in the bylaws. (b) Other officers may be chosen by the board. (c) Officers have the authority and shall perform the duties the bylaws provide, or as the board determines, not inconsistent with the bylaws. Any officer may be removed by the board whenever in its judgment the best interests of the cooperative will be served by removal. Election or appointment of an officer does not of itself create contract rights.
AK Stat § 10.15.180 (2021)
2021 Alaska Statutes|Title 10. Corporations and Associations|Chapter 15. Alaska Cooperative Corporation Act|Article 1. Substantive Provisions.|Sec. 10.15.180. Compensation and benefits to directors, officers, and employees.

Unless the bylaws provide otherwise, (1) only the members of the cooperative may establish compensation or other benefits for a director, not available generally to officers and employees, for services as a director; (2) a director may not hold, during a term as director, a position in the cooperative on regular salary; (3) the board may provide, for prior or future services of an officer or employee, reasonable compensation, pension, or other benefits to the officer or employee and pension or other benefits to a member of the family of the officer or employee or the beneficiaries of the officer or employee; an officer or employee who is a director may not take part in a vote on compensation for services rendered or to be rendered to the cooperative by that officer or employee.
AK Stat § 10.15.185 (2021)
2021 Alaska Statutes|Title 10. Corporations and Associations|Chapter 15. Alaska Cooperative Corporation Act|Article 1. Substantive Provisions.|Sec. 10.15.185. Taking action without meeting.

Action required by this chapter to be taken at a meeting of the members or directors of a cooperative, or any other action that may be taken at a meeting of the members, directors, or members of the executive committee, may be taken without a meeting if a consent in writing setting forth the action taken is signed by all of the members, directors, or executive committee members entitled to vote. This consent has the force and effect of a unanimous vote at a meeting.
AK Stat § 10.15.190 (2021)
2021 Alaska Statutes|Title 10. Corporations and Associations|Chapter 15. Alaska Cooperative Corporation Act|Article 1. Substantive Provisions.|Sec. 10.15.190. Waiver of notice.

Whenever a notice is required to be given to a member or director of a cooperative under this chapter or under the articles or bylaws of a cooperative, a waiver of notice in writing signed by the person entitled to the notice, before or after the time stated in the notice, is equivalent to the giving of the notice.
AK Stat § 10.15.195 (2021)
2021 Alaska Statutes|Title 10. Corporations and Associations|Chapter 15. Alaska Cooperative Corporation Act|Article 1. Substantive Provisions.|Sec. 10.15.195. Voting requirements of articles.

If the articles require the vote of a greater proportion of the members or shareholders than required by this chapter, the articles control.
AK Stat § 10.15.200 (2021)
2021 Alaska Statutes|Title 10. Corporations and Associations|Chapter 15. Alaska Cooperative Corporation Act|Article 1. Substantive Provisions.|Sec. 10.15.200. Procedural requisites in action brought in right of cooperative by member or shareholder.

(a) An action may not be instituted or maintained in the right of a cooperative by a member or shareholder unless that person (1) alleges in the complaint that the person was a member or shareholder of record when a part of the transaction of which the person complains took place, or that membership or stock afterwards devolved on the person by operation of law from a person who was a member or shareholder at that time; (2) alleges in the complaint with particularity efforts of the person to secure from the board the action desired, that the person has either informed the cooperative or board in writing of the ultimate facts of each cause of action against each director or that the person has delivered to the cooperative or board a copy of the complaint that the person proposes to file, and states the reasons for failure of the person to obtain action or the reasons for not making the effort; (3) files a complaint in the action within 20 days after notification given to the cooperative or board as provided by (2) of this subsection. (b) The action may not be dismissed or compromised without the approval of the court.