Terms Used In Arizona Laws > Title 35 > Chapter 6 > Article 3 - Tax Exemption and Liabilities

• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Corporation: means any pollution control corporation incorporated by a municipality or county pursuant to the provisions of this chapter. See Arizona Laws 35-801
• County: means any county in this state in which a corporation may be organized and in which it is contemplated the corporation will function. See Arizona Laws 35-801
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Municipality: means any incorporated city or town, including charter cities, in this state in which a corporation may be organized and in which it is contemplated the corporation will function. See Arizona Laws 35-801
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Property: includes both real and personal property. See Arizona Laws 1-215