Notwithstanding any other rule or provision of law or any provision in their respective charters, agreements of association, articles or organization, certificates or articles of incorporation to the contrary, all persons, except banks and savings and loan associations, organized for the purpose of doing or authorized to do business within this state, including without implied limitation any railroad or transportation corporation or other public utility, are authorized to acquire, purchase, hold, sell, assign, transfer, mortgage, pledge or otherwise dispose of any bonds, securities, or other evidences of indebtedness created by or the shares of the capital stock of a corporation, and while owners of the stock, to exercise all the rights, powers and privileges of ownership without the approval of any regulatory authority of this state.

Terms Used In Arizona Laws 10-2256

  • 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: means a business development corporation formed under this chapter. See Arizona Laws 10-2251
  • 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.
  • including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Shares: means units into which the shareholders' rights to participate in the control of a corporation, in its surplus or profits, or in the distribution of its assets, are divided. See Arizona Laws 10-2251
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