# Alaska Stat. § 10.06.020: Limitations on powers of shareholders, officers, and directors

> Alaska · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_AK_T10_C10.06_S10.06.020

## Section

- **Citation:** Alaska Stat. § 10.06.020
- **Heading:** Limitations on powers of shareholders, officers, and directors
- **Jurisdiction:** Alaska
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** AK Code / Title 10 / Chapter 10.06 / Section 10.06.020

## Text

A limitation upon the powers of the shareholders, officers, or directors, or the manner or exercise of their powers, contained in or implied by the articles of incorporation, bylaws, or action of the board, or by AS 10.06.605 — 10.06.678 or 10.06.705 — 10.06.788 or by a shareholders' agreement may not be asserted as between the corporation or a shareholder and a third person, except in a proceeding (1) by a shareholder or the state to enjoin the doing or continuance of unauthorized business by the corporation or its officers, or both, in a case where a third party has not acquired rights under AS 10.06.025 (a);

(2) to dissolve the corporation; or

(3) by the corporation or by a shareholder suing in a representative suit against the officers or directors of the corporation for violation of their duty.

## Nearby sections

- [Alaska Stat. § 10.06.005 Purposes.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T10_C10.06_S10.06.005.md)
- [Alaska Stat. § 10.06.010 General powers.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T10_C10.06_S10.06.010.md)
- [Alaska Stat. § 10.06.015 Defense of ultra vires.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T10_C10.06_S10.06.015.md)
- [Alaska Stat. § 10.06.020 Limitations on powers of shareholders, officers, and directors.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T10_C10.06_S10.06.020.md)
- [Alaska Stat. § 10.06.025 Contracts or conveyances binding domestic and foreign corporations.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T10_C10.06_S10.06.025.md)
- [Alaska Stat. § 10.06.105 Corporate name.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T10_C10.06_S10.06.105.md)
- [Alaska Stat. § 10.06.110 Reservation of corporate name.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T10_C10.06_S10.06.110.md)
- [Alaska Stat. § 10.06.115 Application for and duration of reservation of name.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T10_C10.06_S10.06.115.md)
- [Alaska Stat. § 10.06.125 Registration of corporate name.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T10_C10.06_S10.06.125.md)
- [Alaska Stat. § 10.06.130 Exclusive right to use name; remedies.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T10_C10.06_S10.06.130.md)
- [Alaska Stat. § 10.06.135 Procedure for registration of corporate name.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T10_C10.06_S10.06.135.md)
- [Alaska Stat. § 10.06.140 Fee for and duration of registered name.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T10_C10.06_S10.06.140.md)
- [Alaska Stat. § 10.06.145 Renewal of registered name.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T10_C10.06_S10.06.145.md)
- [Alaska Stat. § 10.06.150 Registered office and registered agent.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T10_C10.06_S10.06.150.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_AK_T10_C10.06_S10.06.020. Check the current official text before relying on it. Not legal advice.