Arizona Laws 10-740. Definitions
Current as of: 2024 | Check for updates
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In this article, unless the context otherwise requires:
Terms Used In Arizona Laws 10-740
- 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 corporation: means a corporation for profit that is incorporated under a law other than the law of this state. See Arizona Laws 10-140
- Person: includes an individual and entity. See Arizona Laws 10-140
- Shares: means the units into which the proprietary interests in a corporation are divided. See Arizona Laws 10-140
1. "Derivative proceeding" means a civil suit in the right of a domestic corporation or, to the extent provided in section 10-747, in the right of a foreign corporation.
2. "Independent person" means a person with no personal interest in the transaction and no personal or other relationship which influences the person.
3. "Shareholder" includes a beneficial owner whose shares are held in a voting trust or are held by a nominee on the beneficial owner’s behalf.