The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
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This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
A. Subject to any provisions set forth in its articles of incorporation, a corporation may issue rights, options or warrants for the purchase of shares of the corporation. These rights, options or warrants shall be evidenced in writing, and the board of directors shall determine the terms on which the rights, options or warrants are issued and their form and content. The consideration to be received for any shares on the exercise of these rights, options or warrants is governed by section 10-621.
B. The articles of incorporation may provide that the issuance of rights, options or warrants to directors, officers or employees of the corporation or any affiliate of the directors, officers or employees shall be approved by the shareholders.
C. The rights, options or warrants may include provisions that adjust the terms of the rights, options or warrants if there is an acquisition of shares, reorganization, merger, consolidation, sale of assets or other occurrence.