Browse 24,960 source-backed statutes, open stored provisions, and verify official source links.
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24,960 statutes · page 22 of 1,248
United States — Arizona
1 provisions
A corporation may invest excess funds, but it cannot place or keep funds in a bank or savings and loan unless the institution is approved as a depository by a majority of directors, and it cannot make insider loans except with full disclosure and a secret-ballot board vote.
United States — Arizona
1 provisions
A corporation may contract to authorize a member to act as its agent and provide related administrative, auditing, collecting, and fiscal services.
United States — Arizona
1 provisions
The deputy director may supervise and examine a corporation, while the corporation must file an annual condition report by March 1 with a CPA audit attached.
United States — Arizona
1 provisions
If a corporation is dissolved or liquidated, it cannot distribute assets to shareholders until creditor amounts owed to members have been paid in full.
United States — Arizona
1 provisions
A domestic business development corporation may participate in or carry out a merger, interest exchange, conversion, domestication, or division if it complies with the cited chapters.
United States — Arizona
1 provisions
This chapter applies to all benefit corporations, controls over conflicting provisions in certain other chapters, and cannot be overridden by inconsistent articles or bylaws.
United States — Arizona
1 provisions
This section defines key terms used in the chapter, including benefit corporation, benefit enforcement proceeding, general public benefit, minimum status vote, supermajority status vote, subsidiary, and third-party standard.
United States — Arizona
1 provisions
A benefit corporation must be formed under the rules in chapter 2, article 1, and its articles of incorporation must say that it is a benefit corporation.
United States — Arizona
1 provisions
An existing business corporation may elect benefit corporation status by amending its articles of incorporation, and the amendment must be approved by at least the supermajority status vote.
United States — Arizona
1 provisions
A benefit corporation may end its benefit-corporation status by amending its articles, but the amendment must be approved by at least the minimum status vote.
United States — Arizona
1 provisions
A domestic benefit corporation may engage in certain reorganizations if it follows the listed chapter requirements; some formations and plans also need compliance or a minimum status vote to be effective.
United States — Arizona
1 provisions
A benefit corporation must have the purpose of creating general public benefit, may identify specific public benefits in its articles, and may amend its articles to add, change, or remove those specific public benefits if the amendment gets the minimum status vote.
United States — Arizona
1 provisions
Directors and board bodies of a benefit corporation must consider specified stakeholder and environmental factors when acting in the corporation’s best interests.
United States — Arizona
1 provisions
Officers of a benefit corporation must consider specified interests and factors when they have discretion over a matter that may materially affect the corporation’s public benefit purpose.
United States — Arizona
1 provisions
Outside a benefit enforcement proceeding, a person may not sue or assert claims about a benefit corporation’s failure to pursue public benefit or other conduct duties; the corporation is also not liable for monetary damages for that failure.
United States — Arizona
1 provisions
A benefit corporation must prepare an annual benefit report.
United States — Arizona
1 provisions
A benefit corporation must send its annual benefit report to each shareholder on time, post benefit reports on its website if it has one, give a free copy to requesters if it has no website, and file a copy with the Arizona corporation commission.
United States — Arizona
1 provisions
This section defines key terms used in the chapter on control share acquisitions and related corporate rules.
United States — Arizona
1 provisions
A director of an issuing public corporation must consider both short-term and long-term interests of the corporation and its shareholders, including whether continued independence is best for them.
United States — Arizona
1 provisions
Special meetings of shareholders of issuing public corporations may be called by specified officers, directors, authorized persons, or qualifying shareholders, and the board must act on a qualifying demand within set time limits.