Arizona Laws 11-1407. Corporate powers, immunities and limitations
A nonprofit corporation that is organized as provided by this article and that enters into an operating agreement with a sponsoring county:
Terms Used In Arizona Laws 11-1407
- agreement: means an agreement between the sponsoring county and a nonprofit corporation under this chapter for the corporation to assume the health care responsibilities previously performed by the county, including all arrangements and understandings, including a lease agreement, between the county and corporation. See Arizona Laws 11-1401
- board: means the board of directors of a nonprofit corporation that operates a community health system pursuant to this chapter. See Arizona Laws 11-1401
- Bonds: means any bonds, refunding bonds, notes or other debt instrument issued by a nonprofit corporation under this chapter. See Arizona Laws 11-1401
- 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.
- corporation: means a nonprofit corporation that is organized under title 10 and that is qualified or will qualify under section 501(c)(3) of the internal revenue code. See Arizona Laws 11-1401
- including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
- Property: includes both real and personal property. See Arizona Laws 1-215
- Sponsoring county: means a county that enters into an operating agreement under this chapter. See Arizona Laws 11-1401
1. Is considered to:
(a) Exercise its powers for the benefit of the people, to improve their health and welfare and to increase their prosperity.
(b) Engage in a purpose that is essential to public health care.
(c) Have all powers of a nonprofit corporation under title 10.
2. Is entitled to the exemptions and immunities provided by law to similar corporations that are organized for similar purposes including exemptions from taxation of its property and bonds.
3. Possesses and may exercise those powers that are delegated to the corporation by the board of supervisors and that are necessary to satisfy the requirements of section 103 of the internal revenue code as stated in the terms, conditions, restrictions and agreements of the operating agreement. These powers are in addition to the powers that are granted to nonprofit corporations by title 10.