Terms Used In Arizona Laws > Title 29 > Chapter 6 > Article 3 - Interest Exchange

• Acquired entity: means an entity in which all of one or more classes or series of interests are acquired in an interest exchange. See Arizona Laws 29-2102
• Acquiring entity: means the entity that acquires all of one or more classes or series of interests of the acquired entity in an interest exchange. See Arizona Laws 29-2102
• 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.
• Appraisal: A determination of property value.
• Appropriate filing authority: means :

  (a) With respect to corporations, business trusts and limited liability companies, the commission. See Arizona Laws 29-2102

• Approve: means , in the case of an entity, that its governors and interest holders take whatever steps are necessary under its organizational documents, governing statute and other law to do all of the following:

  (a) Propose a transaction subject to this chapter. See Arizona Laws 29-2102

• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Domestic entity: means an entity whose internal affairs are governed by the laws of this state. See Arizona Laws 29-2102
• Entity: means any of the following:

  (a) A corporation. See Arizona Laws 29-2102

• Filing entity: means an entity that is created by the filing of a public organizational document. See Arizona Laws 29-2102
• Foreign entity: means an entity other than a domestic entity. See Arizona Laws 29-2102
• Good faith: means honesty in fact in the conduct or transaction concerned. See Arizona Laws 29-2102
• Governing statute: means , collectively, the statute or statutes governing the internal affairs of an entity. See Arizona Laws 29-2102
• Governor: means a person by or under whose authority the powers of an entity are exercised and under whose direction the business and affairs of the entity are managed pursuant to the governing statute and organizational documents of the entity. See Arizona Laws 29-2102
• Interest: means a governance interest or a transferable interest, including a share or membership in a corporation. See Arizona Laws 29-2102
• Interest exchange: means a transaction authorized by article 3 of this chapter. See Arizona Laws 29-2102
• Interest holder: means a direct holder of an interest. See Arizona Laws 29-2102
• Interest holder liability: means :

  (a) Personal liability for an obligation of an entity that is imposed on a person either:

  (i) Solely by reason of the status of the person as an interest holder. 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.
• Merger: means a transaction authorized by article 2 of this chapter. See Arizona Laws 29-2102
• Obligation: means a debt, loss or liability or any other obligation arising in any manner, regardless of whether it is secured, contingent or liquidated. See Arizona Laws 29-2102
• 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.
• Organizational documents: means the public organizational document and private organizational documents of an entity. See Arizona Laws 29-2102
• Person: means an individual, a corporation, an estate, a trust, a partnership, a limited liability company, a business or similar trust, an association, a joint venture, a public corporation, a government, a governmental subdivision, agency or instrumentality or any other legal or commercial entity. See Arizona Laws 29-2102
• Plan: means a plan of merger, interest exchange, conversion, domestication or division. See Arizona Laws 29-2102
• Property: includes both real and personal property. See Arizona Laws 1-215
• 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

• Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Arizona Laws 29-2102
• Statute: A law passed by a legislature.
• 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