Arizona Laws 6-494. Authority of fiduciaries
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An executor, administrator, guardian, receiver, trustee of any kind or nature, and an insurance company may consent to any plan or exchange any shares of guaranty capital, accounts, creditors’ claims or other rights or claims for securities issued pursuant to any plan and may continue to hold as a legal investment securities so received.
Terms Used In Arizona Laws 6-494
- Executor: A male person named in a will to carry out the decedent
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Investment: means to put funds to use in order to secure profits. See Arizona Laws 6-401
- securities: as used in this article in respect to any plan, includes not only shares of guaranty capital and evidences of accounts issuable by an association under the laws of this state, but also shares of stock of one or more classes issuable by corporations generally, and bonds, notes, debentures, evidences of indebtedness, certificates of interest or participation and collateral trust certificates. See Arizona Laws 6-493
- Trustee: A person or institution holding and administering property in trust.