Arizona Laws 10-1810. Definition of relative rights of capital units
"Relative rights of capital units" means all the rights, privileges, obligations and duties of the capital units and may include, but are not limited to, disproportionate variations of the following:
Terms Used In Arizona Laws 10-1810
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Capital units: means the proportions of the proprietary interest in the corporation owned by the investors. See Arizona Laws 10-1802
- 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.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Property: includes both real and personal property. See Arizona Laws 1-215
1. Participation in dividends or distributions from operating income.
2. Participation in dividends or distributions from income other than operating income.
3. Participation in distributions of the proceeds of a sale of all or substantially all of the assets of the corporation with further disproportionate variation depending upon the degree of gain or loss.
4. Participation in distributions upon liquidation or dissolution.
5. Voting rights.
6. Restrictions or limitations on transfer.
7. The obligation to perform services or provide goods or other property to the corporation.
8. The obligation to devote time and energies which are collateral to corporate purposes.
9. Assessments, if any.