A. If a professional corporation ceases to render professional services or otherwise elects to terminate its professional corporation status, it shall amend its articles of incorporation to:

Terms Used In Arizona Laws 10-2241

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Articles of incorporation: means the original or restated articles of incorporation or articles of merger and all amendments to the articles of incorporation or merger and includes amended and restated articles of incorporation and articles of amendment and merger. See Arizona Laws 10-140
  • 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.

1. Delete references to rendering professional services, unless as described in section 10-2213 the services may be rendered in the business corporation form.

2. Delete references to it being a professional corporation.

3. Conform its corporation name to the requirements of section 10-401.

B. After the amendment becomes effective, the corporation may continue in existence as a business corporation under chapters 1 through 17 of this title and it is no longer subject to this chapter.

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