Arizona Laws 29-2401. Conversion authorized
A. By complying with this article, a domestic entity may become either of the following:
Terms Used In Arizona Laws 29-2401
- Conversion: means a transaction authorized by article 4 of this chapter. See Arizona Laws 29-2102
- Domestic entity: means an entity whose internal affairs are governed by the laws of this state. See Arizona Laws 29-2102
- Entity: means any of the following:
(a) A corporation. See Arizona Laws 29-2102
- Foreign entity: means an entity other than a domestic entity. See Arizona Laws 29-2102
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Jurisdiction of organization: means the jurisdiction whose law includes the governing statute of the entity. See Arizona Laws 29-2102
- Merger: means a transaction authorized by article 2 of this chapter. See Arizona Laws 29-2102
- Protected agreement: means any of the following:
(a) A record evidencing indebtedness and any related agreement in effect on the effective date of this section. See Arizona Laws 29-2102
- Type: means , with regard to an entity, the generic form of that entity, such as listed in paragraph 17 of this section. See Arizona Laws 29-2102
1. A domestic entity of a different type.
2. A foreign entity of a different type if the conversion is authorized by the law of the foreign jurisdiction.
B. A foreign entity may become a domestic entity of a different type under this article if the conversion is authorized by the law of the foreign entity’s jurisdiction of organization.
C. If a protected agreement contains a provision that applies to a merger of a domestic entity but does not refer to a conversion, the provision applies to a conversion of the entity as if the conversion were a merger until the agreement is amended after the effective date of this section.