QUESTION

How do I go about sueing a native corp. for nonpayment of shareholder dividend? corp is in AK

Asked on Oct 13th, 2014 on Business Law - Alaska
More details to this question:
Am an at-large shareholder, In NANA regional corp. Have not rec'd a dividend going on 2 yrs, and now possbly a third yr. I understand filing a complaint with Alaska securities. Need help.
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1 ANSWER

Appellate Practice Attorney serving New York, NY
First, I don't know what a "native" corporation is, but unless it has different rules than other types of corporations, it has no obligation to pay dividends.  Many corporations don't pay dividends.  The only obligations a corporation might have regarding the payment of dividends would be not to discriminate in the payment of dividends, e.g. not to pay dividends on some shares and not to pay dividends on other shares of the same class.  Nor can it circument this obligation not to discriminate by paying excess compensation (i.e. compensation above the fair market value for services rendered) to some shareholders in the form of salary or other employee compensation. 
Answered on Oct 13th, 2014 at 1:43 PM

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