!Creation Date: 09/15/22> <!Author: Arizona Legislative Council> <!Typist: dbupdate>
A. This chapter applies only to issuing public corporations and to corporations which elect pursuant to subsection C of this section to be subject to:
1. All of the provisions of this article.
2. All of the provisions of article 2 of this chapter.
3. All of the provisions of article 3 of this chapter.
4. Any combination of paragraph 1, 2 or 3.
B. A corporation may not elect to be subject to less than all of the provisions in any article of this chapter. A corporation which elects to be subject to all or part of this chapter pursuant to subsection C of this section, for purposes of applying the provisions of this chapter or part of this chapter, shall be deemed an issuing public corporation.
C. An election by a corporation pursuant to subsection A of this section must be contained either:
1. In its articles of incorporation at the time of incorporation.
2. In an amendment to its articles of incorporation or bylaws which is approved by the shareholders holding a majority of the outstanding voting power of all shares.