Arizona Laws 10-2021. Distribution of unclaimed reserves
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If, after ten years from the date of declaration of distribution of reserves, any reserves so distributable remain unclaimed, they may be used by the association in its research and educational work.
Terms Used In Arizona Laws 10-2021
- Association: means a corporation organized under this article. See Arizona Laws 10-2001
- 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