Arizona Laws 29-2103. Relationship to other laws
A. Unless displaced by particular provisions of this chapter, the principles of law and equity supplement this chapter.
Terms Used In Arizona Laws 29-2103
- 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 corporation or a nonprofit corporation. See Arizona Laws 29-2102
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Obligation: means a debt, loss or liability or any other obligation arising in any manner, regardless of whether it is secured, contingent or liquidated. See Arizona Laws 29-2102
- Person: means an individual, a corporation, an estate, a trust, a partnership, a limited liability company, a business or similar trust, an association, a joint venture, a public corporation, a government, a governmental subdivision, agency or instrumentality or any other legal or commercial entity. See Arizona Laws 29-2102
- Plan: means a plan of merger, interest exchange, conversion, domestication or division. See Arizona Laws 29-2102
B. Except as specifically provided in this chapter, this chapter does not affect the application or requirements of law other than this chapter.
C. A transaction effected under this chapter may not create or impair any right or obligation on the part of a person under a provision of the laws of this state other than this chapter relating to a change in control, takeover, business combination, control share acquisition or similar transaction involving a domestic merging, acquired, converting, domesticating or dividing corporation unless either:
1. If the corporation does not survive the transaction, the transaction satisfies any requirements of the provision.
2. If the corporation survives the transaction, the approval of the plan relating to the transaction is by a vote of the shareholders or directors that is sufficient to create or impair the right or obligation directly under the provision.