Arizona Laws > Title 6 > Chapter 4 > Article 12 – Change in Corporate Status
Current as of: 2023 | Check for updates
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Other versions
§ 6-587 | Merger or consolidation of credit unions |
§ 6-588 | Conversion of credit union |
Terms Used In Arizona Laws > Title 6 > Chapter 4 > Article 12 - Change in Corporate Status
- Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- Credit union: means a cooperative nonprofit association that is incorporated under this chapter for the purposes of encouraging thrift among its members and creating a source of credit and other financial services at fair and reasonable cost. See Arizona Laws 6-501
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Deputy director: means the deputy director of the financial institutions division of the department. See Arizona Laws 6-101
- 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.
- Germane: On the subject of the pending bill or other business; a strict standard of relevance.
- including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
- Insolvent: means that the value of a credit union's assets is less than its liabilities. See Arizona Laws 6-501
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Organization: means any corporation, association, partnership, society, firm, syndicate, trust or other legal entity. See Arizona Laws 6-501
- Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
- Property: includes both real and personal property. See Arizona Laws 1-215
- Service of process: The service of writs or summonses to the appropriate party.
- Statute: A law passed by a legislature.
- Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
- United States: includes the District of Columbia and the territories. See Arizona Laws 1-215