Article 1 General Provisions 41-5301 – 41-5303
Article 2 Arizona Finance Authority 41-5351 – 41-5357
Article 3 Workforce 41-5401 – 41-5404

Terms Used In Arizona Laws > Title 41 > Chapter 53 - Office of Economic Opportunity

  • Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
  • Agreement: means any loan or other agreement, contract, note, mortgage, deed of trust, trust indenture, lease, sublease or instrument entered into by the authority. See Arizona Laws 41-5351
  • 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.
  • Authority: means the Arizona finance authority. See Arizona Laws 41-5351
  • 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: means the board of directors of the authority. See Arizona Laws 41-5351
  • Bonds: means any bonds issued by the authority. See Arizona Laws 41-5351
  • 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
  • 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.
  • 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.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Director: means the director of the authority. See Arizona Laws 41-5351
  • Director: means the director of the office. See Arizona Laws 41-5301
  • 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
  • Executive session: A portion of the Senate's daily session in which it considers executive business.
  • Federal agency: means the United States or any agency or agencies of the United States. See Arizona Laws 41-5351
  • 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.
  • 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
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
  • 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
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • 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.
  • Office: means the office of economic opportunity. See Arizona Laws 41-5301
  • Person: includes an individual and entity. See Arizona Laws 10-140
  • Population: means the population according to the most recent United States decennial census. See Arizona Laws 1-215
  • 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.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • 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.
  • 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

  • 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
  • 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

  • United States: includes the District of Columbia and the territories. See Arizona Laws 1-215