The plan must be approved by all of the partners or a number or percentage specified for the transaction in the partnership agreement.

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Terms Used In Arizona Laws 29-370

  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Plan: means a plan of merger, interest exchange, conversion, domestication or division, as applicable. See Arizona Laws 29-368
  • Transaction: means a merger, an interest exchange, a conversion, a domestication or a division, as applicable. See Arizona Laws 29-368