United States — Arizona
ARS § 10-604
1 provisions
Corporations may issue or arrange fractional shares and scrip, but scrip certificates must be labeled "scrip" and include required information.
Act or statute Open & Chat
United States — Arizona Statutes
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United States — Arizona
ARS § 10-620
1 provisions
A pre-incorporation share subscription is generally binding for six months, the board can set payment terms and make payment calls unless the agreement says otherwise, and the corporation can collect overdue amounts and the board can settle disputes. Written subscriptions are required for enforceability.
Act or statute Open & ChatUnited States — Arizona
ARS § 10-621
1 provisions
The board of directors may authorize issuance of shares for valid consideration, but not for promissory notes or future services, and must determine the consideration is adequate before issuance.
Act or statute Open & ChatUnited States — Arizona
ARS § 10-622
1 provisions
A purchaser of a corporation’s own shares is generally not liable for those shares, except that full consideration may still have to be paid. Shareholders are also not personally liable for the corporation’s acts or debts.
Act or statute Open & ChatUnited States — Arizona
ARS § 10-623
1 provisions
This section allows share dividends, but only if the articles of incorporation do not provide otherwise; it also sets limits on cross-class or cross-series share dividends and a default record date rule.
Act or statute Open & ChatUnited States — Arizona
ARS § 10-624
1 provisions
A corporation may issue share rights, options, or warrants if its articles allow it; the board must set the terms and form in writing, and the articles may require shareholder approval for issuances to insiders or affiliates.
Act or statute Open & ChatUnited States — Arizona
ARS § 10-625
1 provisions
This section says share certificates are optional, but if used they must meet specific content and signature requirements, and a certificate cannot be issued until the share is fully paid.
Act or statute Open & ChatUnited States — Arizona
ARS § 10-626
1 provisions
A corporation may issue some or all shares without certificates unless its articles or bylaws say otherwise, and it must send the shareholder a written statement within a reasonable time after issuance or transfer.
Act or statute Open & ChatUnited States — Arizona
ARS § 10-627
1 provisions
Certain corporate documents or shareholder agreements may impose transfer restrictions on shares and related securities, subject to stated limits and notice requirements.
Act or statute Open & ChatUnited States — Arizona
ARS § 10-628
1 provisions
A corporation may pay certain share-issuance and organization expenses out of the consideration received for its shares.
Act or statute Open & ChatUnited States — Arizona
ARS § 10-629
1 provisions
Rights, options and warrants may include terms that change when certain events happen, and may include exercise conditions that block a holder of a specified share percentage from exercising them.
Act or statute Open & ChatUnited States — Arizona
ARS § 10-630
1 provisions
By default, shareholders have no preemptive right to buy unissued shares unless the articles of incorporation provide for it.
Act or statute Open & ChatUnited States — Arizona
ARS § 10-631
1 provisions
A corporation may buy back its own shares. The board of directors may adopt a specified statement to amend the articles, and that statement must include required share information.
Act or statute Open & ChatUnited States — Arizona
ARS § 10-640
1 provisions
A board may authorize distributions to shareholders, and the corporation may make them, but only if the articles of incorporation and solvency limits allow it.
Act or statute Open & ChatUnited States — Arizona
ARS § 10-701
1 provisions
Corporations must hold annual shareholder meetings at the time set by the bylaws; if no place is set, the meeting must be held at the corporation’s known place of business. Water users’ associations can use alternative election methods and may avoid holding an annual meeting if their governing documents allow it.
Act or statute Open & ChatUnited States — Arizona
ARS § 10-702
1 provisions
A corporation must hold a special meeting of shareholders as allowed by its board, authorized persons, or section 10-810(D), and special meetings are held at the corporation’s principal office if the bylaws do not set a place.
Act or statute Open & ChatUnited States — Arizona
ARS § 10-703
1 provisions
A court may order a delayed annual meeting or a special meeting of shareholders, and may set meeting details and quorum rules.
Act or statute Open & ChatUnited States — Arizona
ARS § 10-704
1 provisions
Shareholders may act without a meeting by written consent if the required vote threshold is met, but some actions require unanimous shareholder consent.
Act or statute Open & ChatUnited States — Arizona
ARS § 10-705
1 provisions
A corporation must give shareholders timely notice of annual and special meetings, and special-meeting notices must state the meeting purpose.
Act or statute Open & ChatUnited States — Arizona
ARS § 10-706
1 provisions
A shareholder may waive required notice, but the waiver must be written, signed, and delivered to the corporation. Attendance at a meeting also waives certain notice objections unless the shareholder objects at the start of the meeting or when a matter is presented.
Act or statute Open & Chat