A. A domestic business development corporation may be a party to or otherwise undertake a merger, an interest exchange, a conversion, a domestication or a division by complying with chapters 11 and 13 of this title and Title 29, Chapter 6.

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Terms Used In Arizona Laws 10-2267

  • 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 a business development corporation formed under this chapter. See Arizona Laws 10-2251

B. If a domestic business development corporation is to be created in a merger, a conversion, a domestication or a division:

1. The shareholders of the corporation must be residents of this state as prescribed by section 10-2259, subsection A.

2. The formation of the corporation must otherwise comply with this chapter.

C. For the purposes of this section:

1. "Conversion" means a transaction authorized by Title 29, Chapter 6, Article 4.

2. "Division" means a transaction authorized by Title 29, Chapter 6, Article 6.

3. "Domestication" means a transaction authorized by Title 29, Chapter 6, Article 5.

4. "Interest exchange" means a transaction authorized by Title 29, Chapter 6, Article 3.

5. "Merger" means a transaction authorized by Title 29, Chapter 6, Article 2.

 

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