An association also shall have any power conferred on a corporation by the general corporation laws of the state, and any power not prohibited by law, which is reasonably incident to the accomplishment of the express powers conferred upon the association by this chapter.

Terms Used In Arizona Laws 6-406

  • Association: means every association to which this chapter applies as defined in the section concerning scope of chapter. See Arizona Laws 6-401
  • 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.
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