Arizona Laws 10-726. Action by single and multiple voting groups
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A. If the articles of incorporation or chapters 1 through 17 of this title provide for voting by a single voting group on a matter, action on that matter is taken when voted on by that voting group as provided in section 10-725.
Terms Used In Arizona Laws 10-726
- Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
- 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
- Individual: includes the estate of an incompetent or deceased individual. See Arizona Laws 10-140
- Vote: includes authorization by written ballot and written consent. See Arizona Laws 10-3140
- Voting group: means all shares of one or more classes or series that under the articles of incorporation or chapters 1 through 17 of this title are entitled to vote and be counted together collectively on a matter at a meeting of shareholders. See Arizona Laws 10-140
B. If the articles of incorporation or chapters 1 through 17 of this title provide for voting by two or more voting groups on a matter, action on that matter is taken when voted on by each of those voting groups counted separately as provided in section 10-725. Voting by individual voting groups entitled to vote on a matter need not be simultaneous.