Terms Used In Arizona Laws > Title 10 > Chapter 37 > Article 1 - Voluntary Dissolution

• Act of the board of directors: means either:

  (a) An act of the majority of the directors present at a duly called meeting at which a quorum is present, unless the act of a greater number is required by chapters 1 through 17 of this title, the articles of incorporation or the bylaws. See Arizona Laws 10-140

• Act of the members: means either:

  (a) An act adopted or rejected by a majority of the votes represented and voting at a duly held meeting at which a quorum is present where affirmative votes also constitute a majority of the required quorum unless a greater number of votes is required by chapters 24 through 40 of this title, the articles of incorporation or the bylaws. See Arizona Laws 10-3140

• Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
• Address: means a mailing address. See Arizona Laws 10-140
• Adult: means a person who has attained eighteen years of age. See Arizona Laws 1-215
• Advertisement: includes the attempt by publication, dissemination, solicitation or circulation, oral or written, to induce directly or indirectly any person to enter into any obligation or acquire any title or interest in any merchandise. See Arizona Laws 44-1521
• 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.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• 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
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attorney general: means the attorney general of Arizona or the attorney general's authorized delegate. See Arizona Laws 44-1521
• Authorized delegate: means any attorney, investigator or administrative personnel employed by the attorney general and so designated, and, if requested by the county attorney and authorized by the attorney general, may include similar personnel employed by the several county attorneys of this state. See Arizona Laws 44-1521
• Bequest: Property gifted by will.
• 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
• Commission: means the Arizona corporation commission. See Arizona Laws 10-140
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Consumer: means an individual who uses or intends to use household goods moving services provided by a household goods mover. See Arizona Laws 44-1611
• Contract: A legal written agreement that becomes binding when signed.
• Control: means actual or legal power of influence over another person, whether direct or indirect, arising through direct or indirect ownership of capital stock, interlocking directorates or officers, contractual relations, agency agreements or leasing arrangements where the result is used to affect or influence such persons. See Arizona Laws 44-1551
• 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.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Dealer: means any person engaged in the retail sale of petroleum products supplied under a distributorship, franchise or other agreement, entered into with a distributor. See Arizona Laws 44-1551
• Dealer: means a person engaged in conducting, managing or carrying on the business of purchasing solely precious items or precious items in addition to other tangible personal property. See Arizona Laws 44-1601
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Deliver: includes sending by mail, private courier, fax or electronic transmission. See Arizona Laws 10-140
• Designee: means a local law enforcement agency designated in writing by a county sheriff to perform designated duties specified in this article on behalf of the sheriff. See Arizona Laws 44-1621
• Director: means the director of the securities division of the commission. See Arizona Laws 44-1801
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Dissolved: means the status of a corporation on either:

  (a) Effectiveness of articles of dissolution pursuant to section 10-1403, subsection B or section 10-1421, subsection B. See Arizona Laws 10-140

• 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
• Distributor: means any person engaged in the sale, consignment or other distribution of petroleum products to dealers at retail outlets serving the general motoring public. See Arizona Laws 44-1551
• Division: means the securities division of the commission. See Arizona Laws 44-1801
• 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.
• Examine: means the inspection, study or copying of any account, book, document, merchandise, paper or record. See Arizona Laws 44-1521
• File: when used in connection with information on any consumer, means all of the information on that consumer recorded and retained by a consumer reporting agency regardless of how the information is stored. See Arizona Laws 44-1691
• 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

• Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. ^{Source: OCC}
• Franchise: means a commercial relationship between a supplier and a wholesaler that includes all of the following:

  (a) A commercial relationship of definite duration or continuing indefinite duration is involved. See Arizona Laws 44-1565

• franchise agreement: means a written agreement between a distributor and a dealer under which the dealer is granted the right to use a trademark, trade name, service mark or other identifying symbol or name owned by the distributor, under which the dealer is granted the right to occupy premises owned, leased, or controlled by the distributor, for the purpose of engaging in the retail sale of petroleum products of the distributor. See Arizona Laws 44-1551
• Fraud: Intentional deception resulting in injury to another.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Good cause: means the failure of a dealer to comply with those express provisions of the franchise except any that may be unconscionable. See Arizona Laws 44-1551
• Good cause: means failure by the supplier or the wholesaler to comply with the provisions of an agreement as delineated therein, which provisions are not unconscionable. See Arizona Laws 44-1565
• Good faith: includes the duty of a party to act in a fair and equitable manner in the performance and in demanding performance of the franchise. See Arizona Laws 44-1551
• Good faith: means the duty of each party to any franchise and all officers, employees or agents of the franchise to act in a fair and equitable manner in carrying out the agreement. See Arizona Laws 44-1565
• 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.
• Household goods: means goods that are used primarily for personal, family or household purposes and that are used in connection with household goods moving services. See Arizona Laws 44-1611
• Household goods mover: means a person that provides household goods moving services. See Arizona Laws 44-1611
• Identification document: means a valid driver license, a valid nonoperating identification license, a valid armed forces identification card or any other valid government issued photo identification. See Arizona Laws 44-1621
• including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Investment items: means commodities that possess the characteristics of those items commonly traded in internationally recognized markets. See Arizona Laws 44-1601
• 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.
• Known place of business: means the known place of business required to be maintained pursuant to section 10-501. See Arizona Laws 10-140
• 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}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Loan: means advancing money on the security of pledged goods or purchasing tangible personal property on the condition that it may be redeemed or repurchased by the seller for a fixed or variable price within a fixed or variable period of time. See Arizona Laws 44-1621
• Local law enforcement agency: means the police department of an incorporated city or town or, in areas outside of incorporated cities and towns, the county sheriff. See Arizona Laws 44-1601
• Local law enforcement agency: means the chief of police, the police department or the town marshal, if applicable to a city or town, or the county sheriff, the sheriff's designee or the county sheriff's department, if applicable to a county. See Arizona Laws 44-1621
• Magistrate: means an officer having power to issue a warrant for the arrest of a person charged with a public offense and includes the chief justice and justices of the supreme court, judges of the superior court, judges of the court of appeals, justices of the peace and judges of a municipal court. See Arizona Laws 1-215
• Maturity date: means the date specified on the pawn ticket by which the pledged goods must be redeemed or the pawn ticket must be renewed. See Arizona Laws 44-1621
• Member: means , without regard to what a person is called in the articles of incorporation or bylaws, any person or persons who, pursuant to a provision of a corporation's articles of incorporation or bylaws, have the right to vote for the election of a director or directors. See Arizona Laws 10-3140
• 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
• Merchandise: means any objects, wares, goods, commodities, intangibles, real estate or services. See Arizona Laws 44-1521
• Misrepresentation: means a false or misleading representation made by a person with an intent to deceive or defraud. See Arizona Laws 44-1621
• Month: means a calendar month unless otherwise expressed. See Arizona Laws 1-215
• Moral turpitude: means an offense, whether a misdemeanor or felony, that is related to extortion, burglary, larceny, bribery, embezzlement, robbery, racketeering, money laundering, forgery, fraud, murder, voluntary manslaughter or a sexual offense that requires the individual to register pursuant to section 13-3821. See Arizona Laws 1-215
• Moving destination: means the location that the consumer specifies is where the household goods shall be delivered and unloaded. See Arizona Laws 44-1611
• Newspaper: has the meaning set forth in section 39-201. See Arizona Laws 10-140
• Oath: includes an affirmation or declaration. See Arizona Laws 1-215
• Oath: A promise to tell the truth.
• 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.
• offer for sale: means an attempt or offer to dispose of, or solicitation of an order or offer to buy, a security or interest in a security for value or any sale or offer for sale of a warrant or right to subscribe to another security of the same issuer or of another issuer. See Arizona Laws 44-1801
• Operator: includes a manager or any person in charge of the operation of motels, motor hotels, motor courts, motor camps, hotels, and like establishments. See Arizona Laws 44-1501
• owner: includes natural persons, firms, and corporations. See Arizona Laws 44-1501
• 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.
• Pawn ticket: means the actual executed document that records the pawn transaction and describes the conditions of the loan agreement between the pawnbroker and pledgor. See Arizona Laws 44-1621
• Pawn transaction: means either the act between the pawnbroker and a person pledging tangible personal property or extending credit on the security of pledged goods or the act of purchasing tangible personal property with an express or implied agreement or understanding that it may be redeemed or repurchased by the seller for a fixed or variable price within a fixed or variable period of time, except that a good faith outright purchase of tangible personal property is not a pawn transaction. See Arizona Laws 44-1621
• Pawnbroker: means a person who is engaged in the business of advancing money on the security of pledged goods or is engaged in the business of purchasing tangible personal property on the condition that it may be redeemed or repurchased by the seller for a fixed or variable price within a fixed or variable period of time. See Arizona Laws 44-1621
• Pawnshop: means the location or premises at which a pawnbroker is licensed to regularly conduct the pawnbroker's business. See Arizona Laws 44-1621
• Person: means an individual, corporation, partnership, association, joint stock company or trust, limited liability company, government or governmental subdivision or agency or any other unincorporated organization. See Arizona Laws 44-1801
• Person: means an individual, partnership, corporation, association, or any other entity of whatever kind or nature. See Arizona Laws 44-1691
• Person: means any natural person or the person's legal representative, any partnership or domestic or foreign corporation, any company, trust, business entity or association or any agent, employee, salesman, partner, officer, director, member, stockholder, associate or trustee. See Arizona Laws 44-1521
• Person: means an individual, partnership, corporation, association or any other entity of whatever kind or nature. See Arizona Laws 44-1601
• Person: includes an individual and entity. See Arizona Laws 10-140
• Personal property: All property that is not real property.
• Personal property: includes money, goods, chattels, things in action and evidences of debt. See Arizona Laws 1-215
• Petroleum products: means motor vehicle fuels and lubricants. See Arizona Laws 44-1551
• Pledged goods: means tangible personal property which is deposited with or otherwise actually delivered into the possession of a pawnbroker in the course of the pawnbroker's business in connection with the pawn transaction. See Arizona Laws 44-1621
• Pledgor: means the person leaving the personal property with the pawnbroker and executing the pawn ticket. See Arizona Laws 44-1621
• Precious item: means :

  (a) Secondhand gold, silver, platinum or jewelry, flatware or holloware containing gold, silver or platinum. See Arizona Laws 44-1601

• 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
• Property: includes both real and personal property. See Arizona Laws 1-215
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Publish: means to publish in a newspaper of general circulation in the county of the known place of business for three consecutive publications. See Arizona Laws 10-140
• Purchase: means to buy, trade, exchange or receive a precious item. See Arizona Laws 44-1601
• Quorum: The number of legislators that must be present to do business.
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• redemption: means the act of the pledgor or the pledgor's agent of retrieving and paying in full all charges and fees for the pledged goods left with the pawnshop. See Arizona Laws 44-1621
• Registered mail: includes certified mail. See Arizona Laws 1-215
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Reportable transaction: means any transaction conducted by a pawnbroker in which merchandise is received through a pawn, purchase, trade or consignment. See Arizona Laws 44-1621
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Sale: means any sale, offer for sale or attempt to sell any merchandise for any consideration, including sales, leases and rentals of any real estate subject to any form of deed restriction imposed as part of a previous sale. See Arizona Laws 44-1521
• Salesman: means an individual, other than a dealer, employed, appointed or authorized by a dealer to sell securities in this state. See Arizona Laws 44-1801
• Secondhand: means that the precious item has previously been owned by someone other than the manufacturer or dealer whose business it is to sell such items to the public. See Arizona Laws 44-1601
• sell: means a sale or any other disposition of a security or interest in a security for value and includes a contract to make such sale or disposition. See Arizona Laws 44-1801
• 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.
• Spirituous liquor: includes alcohol, brandy, whiskey, rum, tequila, mescal, gin, wine, porter, absinthe, a compound or mixture of any of them or of any of them with any vegetable or other substance, alcohol bitters, bitters containing alcohol, any liquid mixture or preparation, whether patented or otherwise, that produces intoxication, fruits preserved in ardent spirits and beverages containing more than one-half of one percent of alcohol by volume. See Arizona Laws 44-1565
• Statute: A law passed by a legislature.
• Subpoena: A command to a witness to appear and give testimony.
• Summons: Another word for subpoena used by the criminal justice system.
• Supplier: means any person other than a wholesaler engaged in business as a manufacturer, distiller, rectifier, importer, brewer, vintner, broker or agent that distributes any or all of its beer through duly licensed wholesalers in this state. See Arizona Laws 44-1565
• Transaction date: means the initial date of the reportable transaction. See Arizona Laws 44-1621
• 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.
• United States: includes the District of Columbia and the territories. See Arizona Laws 1-215
• Vote: includes authorization by written ballot and written consent. See Arizona Laws 10-3140
• Voting power: means the total number of votes entitled to be cast for the election of directors at the time the determination of voting power is made, excluding a vote that is contingent on the happening of a condition or event that has not occurred at the time. See Arizona Laws 10-3140
• Wholesaler: means any person licensed by the department of liquor licenses and control to sell at wholesale beer to retailers duly licensed in this state. See Arizona Laws 44-1565
• Wilfully: means , with respect to conduct or to a circumstance described by a statute defining an offense, that a person is aware or believes that the person's conduct is of that nature or that the circumstance exists. See Arizona Laws 1-215
• Writing: includes printing. See Arizona Laws 1-215
• written: includes blockchain technology as defined in section 44-7061. See Arizona Laws 10-140