Terms Used In Arizona Laws > Title 10 > Chapter 22 - Benefit Corporations

• Abandoned: means the failure of the parent to provide reasonable support and to maintain regular contact with the child, including providing normal supervision. See Arizona Laws 8-201
• Abuse: means the infliction or allowing of physical injury, impairment of bodily function or disfigurement or the infliction of or allowing another person to cause serious emotional damage as evidenced by severe anxiety, depression, withdrawal or untoward aggressive behavior and which emotional damage is diagnosed by a medical doctor or psychologist and is caused by the acts or omissions of an individual who has the care, custody and control of a child. See Arizona Laws 8-201
• Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
• Adult: means a person who has attained eighteen years of age. See Arizona Laws 1-215
• Adult: means a person who is eighteen years of age or older. See Arizona Laws 8-201
• Adult court: means the appropriate justice court, municipal court or criminal division of the superior court that has jurisdiction to hear proceedings concerning offenses committed by juveniles as provided in sections 8-327 and 13-501. See Arizona Laws 8-201
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Afflicted: means persons who, because of a mental or physical condition, illness or condition of distress, adversity or harassment, or imminent risk of such condition, are unable to reasonably take care of themselves or their families or to properly function in society without periodic or continuous assistance. See Arizona Laws 42-11101
• algaculture: means the controlled propagation, growth and harvest of algae. See Arizona Laws 42-12151
• Allegation: something that someone says happened.
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• Application: means the completion of the department application form with documentation of the child's special needs and nonrecurring expenses related to the adoption. See Arizona Laws 8-161
• Appraisal: A determination of property value.
• Arrest: Taking physical custody of a person by lawful authority.
• Articles of incorporation: means the original or restated articles of incorporation or articles of merger and all amendments to the articles of incorporation or merger and includes amended and restated articles of incorporation and articles of amendment and merger. See Arizona Laws 10-140
• Assessed valuation: means the value derived by applying the applicable percentage prescribed by chapter 15, article 1 of this title to the full cash value or limited property value of the property, as applicable. See Arizona Laws 42-11001
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Benefit corporation: means a corporation that both:

  (a) Has elected to become subject to this chapter. See Arizona Laws 10-2402

• Benefit enforcement proceeding: means any claim or action for either of the following:

  (a) The failure of a benefit corporation to pursue or create general public benefit or a specific public benefit purpose set forth in its articles. See Arizona Laws 10-2402

• Board of directors: means the group of persons vested with the management of the affairs of the corporation irrespective of the name by which the group is designated and includes the governing body or bodies of a water users' association if the articles of incorporation of the water users' association provide for a governing body or bodies denominated other than as a board of directors. See Arizona Laws 10-140
• Bylaws: means the code of rules adopted for the regulation or management of the affairs of the corporation irrespective of the name by which those rules are designated. See Arizona Laws 10-140
• Class: refers to a group of memberships that have the same rights with respect to voting, dissolution, redemption and transfer. See Arizona Laws 10-3140
• code: means the document filed with the secretary of state on or before July 1, 1988 and that is maintained by the department of revenue beginning July 1, 2012. See Arizona Laws 42-6051
• Commercial historic property: means real property that:

  (a) Meets the criteria for classification as class one, paragraph 12 pursuant to section 42-12001 or class four pursuant to section 42-12004, subsection A, paragraphs 2 through 9. See Arizona Laws 42-12101

• Commission: means the Arizona corporation commission. See Arizona Laws 10-140
• Commission: means the municipal tax code commission. See Arizona Laws 42-6051
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Contract: A legal written agreement that becomes binding when signed.
• Conviction: A judgement of guilt against a criminal defendant.
• 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.
• Council: means the Arizona grain research and promotion council. See Arizona Laws 3-581
• County board: means the county board of supervisors sitting as the county board of equalization. See Arizona Laws 42-11001
• Current usage: means the use to which property is put at the time of valuation by the assessor or the department. See Arizona Laws 42-11001
• Custodian: means a person, other than a parent or legal guardian, who stands in loco parentis to the child or a person to whom legal custody of the child has been given by order of the juvenile court. See Arizona Laws 8-201
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Delinquent act: means an act by a juvenile that if committed by an adult would be a criminal offense or a petty offense, a violation of any law of this state, or of another state if the act occurred in that state, or a law of the United States, or a violation of any law that can only be violated by a minor and that has been designated as a delinquent offense, or any ordinance of a city, county or political subdivision of this state defining crime. See Arizona Laws 8-201
• Delinquent juvenile: means a child who is adjudicated to have committed a delinquent act. See Arizona Laws 8-201
• Deliver: includes sending by mail, private courier, fax or electronic transmission. See Arizona Laws 10-140
• Delivery: means actual receipt by the person or entity to which directed and for electronic transmissions means receipt as described in section 44-7015, subsection B. See Arizona Laws 10-140
• Department: means the department of revenue. See Arizona Laws 42-1001
• Department: means the department of child safety. See Arizona Laws 8-201
• Dependent: A person dependent for support upon another.
• Detention: means the temporary confinement of a juvenile who requires secure care in a physically restricting facility that is completely surrounded by a locked and physically secure barrier with restricted ingress and egress for the protection of the juvenile or the community pending court disposition or as a condition of probation. See Arizona Laws 8-201
• Director: means the director of the department. See Arizona Laws 42-1001
• Director: means the director of the department. See Arizona Laws 8-201
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Distribution: means a direct or indirect transfer of money or other property, except its own shares, or incurrence of indebtedness by a corporation to or for the benefit of its shareholders in respect of any of its shares. See Arizona Laws 10-140
• Due date: means the next business day if a due date of any report, claim, return, statement, payment, deposit, petition, notice or other document or filing falls on Saturday, Sunday or a legal holiday. See Arizona Laws 42-11001
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• Entity: includes a corporation, foreign corporation, not for profit corporation, profit and not for profit unincorporated association, nonprofit corporation, close corporation, corporation sole or limited liability company, a professional corporation, association or limited liability company, a business trust, estate, partnership, registered limited liability partnership, trust or joint venture, two or more persons having a joint or common economic interest, any person other than an individual and a state, the United States and a foreign government. See Arizona Laws 10-140
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Ex officio: Literally, by virtue of one's office.
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Fiduciary: A trustee, executor, or administrator.
• Filing: means the commission completing the following procedure with respect to any document delivered for that purpose:

  (a) Determining that the filing fee requirements of section 10-122 have been satisfied. See Arizona Laws 10-140

• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• General public benefit: means a material positive impact on society and the environment, taken as a whole, assessed against a third-party standard, from the business and operations of a benefit corporation. See Arizona Laws 10-2402
• Government lessor: means a city, town, county or county stadium district. See Arizona Laws 42-6201
• Government property improvement: means a building for which a certificate of occupancy has been issued, for which the title of record is held by a government lessor, that is situated on land for which the title of record is held by a government lessor or a political subdivision of this state and that is available for use for any commercial, residential rental or industrial purpose, including, but not limited to, office, retail, restaurant, service business, hotel, entertainment, recreational or parking uses. See Arizona Laws 42-6201
• Grain: means the seed of barley and wheat of all classes produced for use as food, feed or seed or produced for any industrial or commercial use. See Arizona Laws 3-581
• Gross building space: means the total floor area of a building measured from the exterior of the walls, but not including unenclosed areas. See Arizona Laws 42-6201
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Incorrigible child: means a child who:

  (a) Is adjudicated as a child who refuses to obey the reasonable and proper orders or directions of a parent, guardian or custodian and who is beyond the control of that person. See Arizona Laws 8-201

• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• Indigent: means a person who is without sufficient means or ability to provide themselves with adequate food, shelter or social necessaries. See Arizona Laws 42-11101
• Individual: includes the estate of an incompetent or deceased individual. See Arizona Laws 10-140
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Internal revenue code: means the United States internal revenue code of 1986, as amended and in effect as of January 1, 2023, including those provisions that became effective during 2022 with the specific adoption of their retroactive effective dates but excluding all changes to the code enacted after January 1, 2023. See Arizona Laws 42-1001
• 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.
• Juvenile court: means the juvenile division of the superior court when exercising its jurisdiction over children in any proceeding relating to delinquency, dependency or incorrigibility. See Arizona Laws 8-201
• Law enforcement officer: means a peace officer, sheriff, deputy sheriff, municipal police officer or constable. See Arizona Laws 8-201
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Lien: A claim against real or personal property in satisfaction of a debt.
• Limited property value: means the value determined pursuant to section 42-13301. See Arizona Laws 42-11001
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Marketing year: means a one year period from February 1 through January 31 of the following calendar year. See Arizona Laws 3-581
• Membership: refers to the rights and obligations a member or members have pursuant to a corporation's articles of incorporation and bylaws and chapters 24 through 40 of this title. See Arizona Laws 10-3140
• Minimum status vote: means :

  (a) In the case of a business corporation, in addition to any other required approval or vote, the satisfaction of the following conditions:

  (i) The shareholders of every class or series are entitled to vote as a separate voting group on the corporate action regardless of a limitation stated in the articles of incorporation or bylaws on the voting rights of any class or series. See Arizona Laws 10-2402

• mining claim: means a mine or mining claim from which coal or any other mineral or mineral substance, except for clay, sand, gravel, building stone or a mineral or mineral substance that is normally processed into artificial stone, has been extracted for commercial purposes at any time during a period of one year before the first Monday in January of the valuation year. See Arizona Laws 42-11001
• Minor: means a person under eighteen years of age. See Arizona Laws 1-215
• Minor children: means persons under eighteen years of age. See Arizona Laws 1-215
• Month: means a calendar month unless otherwise expressed. See Arizona Laws 1-215
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• neglected: means :

  (a) The inability or unwillingness of a parent, guardian or custodian of a child to provide that child with supervision, food, clothing, shelter or medical care if that inability or unwillingness causes substantial risk of harm to the child's health or welfare, except if the inability of a parent, guardian or custodian to provide services to meet the needs of a child with a disability or chronic illness is solely the result of the unavailability of reasonable services. See Arizona Laws 8-201

• Newborn infant: means a child who is under thirty days of age. See Arizona Laws 8-201
• Noncommercial historic property: means real property:

  (a) That is listed in the national register of historic places established and maintained under the national historic preservation act (P. See Arizona Laws 42-12101

• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Oversight: Committee review of the activities of a Federal agency or program.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
• Person: means a natural person, individual, proprietor, proprietorship, company, corporation, organization, association, joint venture, partner, partnership, trust, estate or limited liability company, the federal or state government, a political subdivision of a state or any other legal entity or combination of entities that owns, controls or has possession of real or personal property. See Arizona Laws 42-11001
• Person: includes an individual and entity. See Arizona Laws 10-140
• Personal property: All property that is not real property.
• Personal property: includes property of every kind, both tangible and intangible, that is not included as real estate. See Arizona Laws 42-11001
• Petition: means a written statement of the essential facts that allege delinquency, incorrigibility or dependency. See Arizona Laws 8-201
• Petty offense: A federal misdemeanor punishable by six months or less in prison. ^{Source: U.S. Courts}
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Population: means the population according to the most recent United States decennial census. See Arizona Laws 1-215
• population: means the population determined in the most recent United States decennial census or the most recent special census as provided in section 28-6532. See Arizona Laws 42-6101
• Prime lessee: means any person, partnership, corporation, company, limited liability company, joint venture or other organization or association that enters into a lease directly with a government lessor to develop or occupy for at least thirty consecutive days a government property improvement, regardless of whether the improvement is actually used by the prime lessee or by one or more sublessees. See Arizona Laws 42-6201
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Probation officers: Screen applicants for pretrial release and monitor convicted offenders released under court supervision.
• Proceeding: includes a civil suit and a criminal, administrative and investigatory action. See Arizona Laws 10-140
• Process: means a citation, writ or summons issued in the course of judicial proceedings. See Arizona Laws 1-215
• Producer: means a person, partnership, corporation or cooperative in this state that produces and sells grain in commercial channels. See Arizona Laws 3-581
• Property: includes both real and personal property. See Arizona Laws 1-215
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Public defender: Represent defendants who can't afford an attorney in criminal matters.
• Qualified young adult: means a former dependent child who is at least eighteen years of age and not over twenty-one years of age, who meets the criteria for an extended foster care program pursuant to Section 8-521. See Arizona Laws 8-201
• Real estate: includes the ownership of, claim to, possession of or right of possession to lands or patented mines. See Arizona Laws 42-11001
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Referral: means a report that is submitted to the juvenile court and that alleges that a child is dependent or incorrigible or that a juvenile has committed a delinquent or criminal act. See Arizona Laws 8-201
• Residential treatment and education facility: means any residential facility that is subject to Title 15, Chapter 10, Article 6. See Arizona Laws 42-11001
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Roll: means the assessment and tax roll. See Arizona Laws 42-11001
• Secondary property taxes: means :

  (a) Ad valorem taxes or special property assessments that are used to pay the principal of and the interest and redemption charges on bonded indebtedness or other lawful long-term obligations that are issued or incurred for a specific capital purpose by a municipality, county or taxing district. See Arizona Laws 42-11001

• Secure care: means confinement in a facility that is completely surrounded by a locked and physically secure barrier with restricted ingress and egress. See Arizona Laws 8-201
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Shareholder: means the person in whose name shares are registered in the records of a corporation or the beneficial owner of shares to the extent of the rights granted by a nominee certificate on file with a corporation. See Arizona Laws 10-140
• Shares: means the units into which the proprietary interests in a corporation are divided. See Arizona Laws 10-140
• Specific public benefit: includes :

  (a) Providing low-income or underserved individuals or communities with beneficial products or services. See Arizona Laws 10-2402

• state board: means either the state board of tax appeals or the state board of equalization, as applicable. See Arizona Laws 42-1001
• Statute: A law passed by a legislature.
• Subpoena: A command to a witness to appear and give testimony.
• Subsidiary: means , in relation to a person, an entity in which the person owns beneficially or of record fifty per cent or more of the outstanding equity interests. See Arizona Laws 10-2402
• Supermajority status vote: means :

  (a) For a business corporation, in addition to any other required approval or vote, the satisfaction of the following conditions:

  (i) The shareholders of every class or series are entitled to vote as a separate voting group on the corporate action regardless of a limitation stated in the articles of incorporation or bylaws on the voting rights of any class or series. See Arizona Laws 10-2402

• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Third-party standard: means a recognized standard for defining, reporting and assessing corporate social and environmental performance that is:

  (a) Comprehensive because it assesses the effect of a business and its operations on the interests listed in section 10-2431, subsection A, paragraph 1. See Arizona Laws 10-2402

• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trustee: A person or institution holding and administering property in trust.
• Valuation: means the full cash value or limited property value that is determined for real or personal property, as applicable. See Arizona Laws 42-11001
• Valuation year: means :

  (a) For real property and property valued by the department, the calendar year preceding the year in which the taxes are levied. See Arizona Laws 42-11001

• Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
• Venue: The geographical location in which a case is tried.
• Vote: includes authorization by written ballot and written consent. See Arizona Laws 10-3140
• Voting group: means all shares of one or more classes or series that under the articles of incorporation or chapters 1 through 17 of this title are entitled to vote and be counted together collectively on a matter at a meeting of shareholders. See Arizona Laws 10-140
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.
• Writ: means an order or precept in writing issued in the name of the state or by a court or judicial officer. See Arizona Laws 1-215
• Writing: includes printing. See Arizona Laws 1-215