Arizona Laws 41-320. Competency of bank and corporation notaries
A. It is lawful for a notary public who is a stockholder, director, officer or employee of a corporation to take the acknowledgment or oath of any party to any record executed to or by the corporation, or to administer an oath to any other stockholder, director, officer, employee or agent of the corporation, or to protest for nonacceptance or nonpayment of bills of exchange, drafts, checks, notes and other negotiable instruments that may be owned or held for collection by the corporation.
Terms Used In Arizona Laws 41-320
- Acknowledgment: means a declaration by an individual before a notarial officer that the individual has signed a record for the purpose stated in the record and, if the record is signed in a representative capacity, that the individual signed the record with proper authority and signed it as the act of the individual or entity identified in the record. See Arizona Laws 41-251
- 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.
- notary: means any individual who is commissioned to perform notarial acts by the secretary of state. See Arizona Laws 41-251
- Oath: includes an affirmation or declaration. See Arizona Laws 1-215
- Oath: A promise to tell the truth.
- Record: means information that is either:
(a) Inscribed on a tangible medium. See Arizona Laws 41-251
B. It is unlawful for any notary public to take the acknowledgment of a record executed by or to a corporation of which the notary public is a stockholder, director, officer or employee, where the notary public is a party to the record, either individually or as a representative of the corporation, or to protest any negotiable instrument owned or held for collection by the corporation, where the notary is individually a party to the instrument. A notarial act performed in violation of this subsection is voidable.