Arizona Laws 10-2244. Authority to transact business
A. Except as provided in subsection C of this section, a foreign professional corporation shall not transact business in this state until it is granted authority to transact business in this state from the commission.
Terms Used In Arizona Laws 10-2244
- Articles of incorporation: means the original or restated articles of incorporation or articles of merger and all amendments to the articles of incorporation or merger and includes amended and restated articles of incorporation and articles of amendment and merger. See Arizona Laws 10-140
- Commission: means the Arizona corporation commission. See Arizona Laws 10-140
- 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.
- Foreign professional corporation: means a corporation or association for profit incorporated for the purpose of rendering professional services under a law other than the law of this state. See Arizona Laws 10-2201
- licensed: means any license, authorization, certificate, registration, certificate of registration, membership or other evidence of the satisfaction of the requirements of this state for the practice of a professional service. See Arizona Laws 10-2201
- President: means that officer designated as the president in the articles of incorporation or bylaws or, if not so designated, that officer authorized in the articles of incorporation, bylaws or otherwise to perform the functions of the chief executive officer, irrespective of the name by which designated. See Arizona Laws 10-140
- Professional service: means a service that may be lawfully rendered only by a person licensed or otherwise authorized by a licensing authority in this state to render the service. See Arizona Laws 10-2201
- Vote: includes authorization by written ballot and written consent. See Arizona Laws 10-3140
B. A foreign professional corporation may not obtain authority to transact business in this state unless:
1. Its corporate name satisfies the requirements of section 10-2215.
2. It is incorporated for one or more of the purposes described in section 10-2211.
3. At least one-half of its shareholders who are entitled to vote for the election of directors, at least one-half of its directors and its president, if any, are licensed in one or more states to render a professional service described in its articles of incorporation.
C. A foreign professional corporation is not required to obtain authority to transact business in this state unless it maintains or intends to maintain an office in this state for the conduct of business or professional practice.