Arizona Laws 35-807. Earnings of the corporation
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The corporation shall be a nonprofit corporation and no part of its net earnings remaining after payment of its debts and expenses shall inure to the benefit of any individual, firm or corporation.
Terms Used In Arizona Laws 35-807
- 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