The investors shall not be liable for the debts, obligations or liabilities of the close corporation.

Terms Used In Arizona Laws 10-1813

  • 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.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
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