Arizona Laws 9-242. Hospitals
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A. The corporation may own, operate and control hospitals in the interest of the general welfare.
Terms Used In Arizona Laws 9-242
- 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.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
B. The council may lease a hospital to a nonprofit association or corporation organized under state law, on such terms and conditions, and for such consideration, as the council may prescribe.