Sec. 10.06.308. - Issuance of preferred or special classes of shares.
If authorized by the articles of incorporation, a corporation may issue preferred or special classes of shares
(1) subject to redemption as provided under AS 10.06.325 ;
(2) entitling the holders to cumulative, noncumulative, or partially cumulative dividends;
(3) having preferences over another class or classes of shares for the payment of dividends;
(4) having preference in the assets of the corporation over another class of shares upon the voluntary or involuntary liquidation of the corporation;
(5) convertible into shares of another class or into shares of a series of the same or another class, except a class having prior or superior rights and preferences as to dividends or distribution of assets upon liquidation.