Terms Used In Arizona Laws > Title 10 > Chapter 12 > Article 1 - General Provisions

• Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
• Articles of incorporation: means the original or restated articles of incorporation or articles of merger and all amendments to the articles of incorporation or merger and includes amended and restated articles of incorporation and articles of amendment and merger. See Arizona Laws 10-140
• Board of directors: means the group of persons vested with the management of the affairs of the corporation irrespective of the name by which the group is designated and includes the governing body or bodies of a water users' association if the articles of incorporation of the water users' association provide for a governing body or bodies denominated other than as a board of directors. See Arizona Laws 10-140
• Commission: means the corporation commission. See Arizona Laws 40-201
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Director: means the director of the residential utility consumer office. See Arizona Laws 40-461
• Distribution: means a direct or indirect transfer of money or other property, except its own shares, or incurrence of indebtedness by a corporation to or for the benefit of its shareholders in respect of any of its shares. See Arizona Laws 10-140
• including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
• 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}
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Office: means the residential utility consumer office. See Arizona Laws 40-461
• Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
• Pipeline: includes all property used in transmission for compensation of air, steam or fluid substances, except water, through pipelines. See Arizona Laws 40-201
• Property: includes both real and personal property. See Arizona Laws 1-215
• Public service corporation: means a public service corporation as defined in article XV, section 2, Constitution of Arizona except a member-owned nonprofit cooperative corporation. See Arizona Laws 40-461
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Shareholder: means the person in whose name shares are registered in the records of a corporation or the beneficial owner of shares to the extent of the rights granted by a nominee certificate on file with a corporation. See Arizona Laws 10-140
• Shares: means the units into which the proprietary interests in a corporation are divided. See Arizona Laws 10-140
• United States: includes the District of Columbia and the territories. See Arizona Laws 1-215
• Vote: includes authorization by written ballot and written consent. See Arizona Laws 10-3140