A. A domestic business development 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 10-2267

  • 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.

B. If a domestic business development corporation is to be created in a merger, a conversion, a domestication or a division:

1. The shareholders of the corporation must be residents of this state as prescribed by section 10-2259, subsection A.

2. The formation of the corporation must otherwise comply with 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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