Sections
Article 1 General Provisions 41-5001

Terms Used In Arizona Laws > Title 41 > Chapter 50

  • 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.
  • 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
  • Benefit corporation: means a corporation that both:

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

  • 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.
  • 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
  • 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.
  • Specific public benefit: includes :

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

  • Vote: includes authorization by written ballot and written consent. See Arizona Laws 10-3140