Arizona Laws 29-2501. Domestication authorized; definition
A. By complying with this article, a domestic entity may become a domestic entity of the same type in a foreign jurisdiction if the domestication is authorized by the law of the foreign jurisdiction.
Terms Used In Arizona Laws 29-2501
- Domestic entity: when used in this article in reference to a foreign jurisdiction, means an entity whose internal affairs are governed by the law of the foreign jurisdiction. See Arizona Laws 29-2501
- Domestication: means a transaction authorized by article 5 of this chapter. See Arizona Laws 29-2102
- Entity: means any of the following:
(a) A corporation. See Arizona Laws 29-2102
- Foreign entity: means an entity other than a domestic entity. See Arizona Laws 29-2102
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Jurisdiction of organization: means the jurisdiction whose law includes the governing statute of the entity. See Arizona Laws 29-2102
- Merger: means a transaction authorized by article 2 of this chapter. See Arizona Laws 29-2102
- Protected agreement: means any of the following:
(a) A record evidencing indebtedness and any related agreement in effect on the effective date of this section. See Arizona Laws 29-2102
- Type: means , with regard to an entity, the generic form of that entity, such as listed in paragraph 17 of this section. See Arizona Laws 29-2102
B. A foreign entity may become a domestic entity of the same type in this state under this article if the domestication is authorized by the law of the foreign entity’s jurisdiction of organization.
C. If a protected agreement contains a provision that applies to a merger of a domestic entity but does not refer to a domestication, the provision applies to a domestication of the entity as if the domestication were a merger until the agreement is amended after the effective date of this section.
D. "Domestic entity", when used in this article in reference to a foreign jurisdiction, means an entity whose internal affairs are governed by the law of the foreign jurisdiction.