Terms Used In Arizona Laws > Title 43 > Chapter 17 - Small Businesses

• Act of the board of directors: means either:

  (a) An act of the majority of the directors present at a duly called meeting at which a quorum is present, unless the act of a greater number is required by chapters 1 through 17 of this title, the articles of incorporation or the bylaws. See Arizona Laws 10-140

• Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
• Arizona small business: means an activity that generates Arizona small business gross income. See Arizona Laws 43-1701
• 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
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
• 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
• Business day: means a day that is not a Saturday, a Sunday or any other legal holiday in this state. See Arizona Laws 10-140
• Bylaws: means the code of rules adopted for the regulation or management of the affairs of the corporation irrespective of the name by which those rules are designated. See Arizona Laws 10-140
• 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.
• Department: means the department of revenue, the director or the director's authorized delegate, as the context requires. See Arizona Laws 43-104
• 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
• Donor: The person who makes a gift.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Foreign country: means any jurisdiction other than one embraced within the United States. See Arizona Laws 43-104
• including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
• Individual: includes the estate of an incompetent or deceased individual. See Arizona Laws 10-140
• Member: means , without regard to what a person is called in the articles of incorporation or bylaws, any person or persons who, pursuant to a provision of a corporation's articles of incorporation or bylaws, have the right to vote for the election of a director or directors. See Arizona Laws 10-3140
• Month: means a calendar month unless otherwise expressed. See Arizona Laws 1-215
• Nonresident: means every individual other than a resident. See Arizona Laws 43-104
• Person: includes an individual and entity. See Arizona Laws 10-140
• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• Proceeding: includes a civil suit and a criminal, administrative and investigatory action. See Arizona Laws 10-140
• Property: includes both real and personal property. See Arizona Laws 1-215
• Quorum: The number of legislators that must be present to do business.
• Resident: includes :

  (a) Every individual who is in this state for other than a temporary or transitory purpose. See Arizona Laws 43-104

• Secretary: means that officer designated as the secretary in the articles of incorporation or bylaws or that officer authorized in the articles of incorporation, the bylaws or otherwise to perform the functions of secretary, irrespective of the name by which designated. See Arizona Laws 10-140
• 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
• Small business taxpayer: means any individual taxpayer who reports on the taxpayer's federal income tax return any income that constitutes Arizona small business gross income as defined in section 43-1701. See Arizona Laws 43-104
• Tax: means the taxes imposed under this title. See Arizona Laws 43-104
• Taxable year: means :

  (a) The calendar year or the fiscal year, ending during such calendar year, on the basis of which the taxable income is computed under this title. See Arizona Laws 43-104

• Trade or business: includes the performance of the functions of a public office. See Arizona Laws 43-104
• Trustee: A person or institution holding and administering property in trust.
• Vote: includes authorization by written ballot and written consent. See Arizona Laws 10-3140
• written: includes blockchain technology as defined in section 44-7061. See Arizona Laws 10-140