A. A domestic professional corporation may be a party to or otherwise undertake a merger, an interest exchange, a conversion, a domestication or a division by complying with chapters 11 and 13 of this title and Title 29, Chapter 6.

Terms Used In Arizona Laws 10-2240

  • 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.
  • domestic professional corporation: means a corporation for profit that is not a foreign professional corporation and that is incorporated under or subject to this chapter. See Arizona Laws 10-2201

B. If a domestic professional corporation is to be created in a merger, a conversion, a domestication or a division, the shareholders of the corporation must be qualified to be shareholders as provided in this chapter.

C. For the purposes of this section:

1. "Conversion" means a transaction authorized by Title 29, Chapter 6, Article 4.

2. "Division" means a transaction authorized by Title 29, Chapter 6, Article 6.

3. "Domestication" means a transaction authorized by Title 29, Chapter 6, Article 5.

4. "Interest exchange" means a transaction authorized by Title 29, Chapter 6, Article 3.

5. "Merger" means a transaction authorized by Title 29, Chapter 6, Article 2.

 

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