Terms Used In Arizona Laws > Title 41 > Chapter 49
Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
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 such water users' association provide for a governing body or bodies denominated other than as a board of directors. See Arizona Laws 10-140
Corporation: means a business development corporation formed under the provisions of this chapter. See Arizona Laws 10-2251
Deed: The legal instrument used to transfer title in real property from one person to another.
Shares: means units into which the shareholders' rights to participate in the control of a corporation, in its surplus or profits, or in the distribution of its assets, are divided. See Arizona Laws 10-2251