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.
10-2406 - Merger, interest exchange, conversion, domestication or division; definitions
10-2406. Merger, interest exchange, conversion, domestication or division; definitions
A. A domestic benefit corporation may be a party to or otherwise undertake a merger, an interest exchange, a conversion, a domestication or a division by complying with chapters 11 and 13 of this title and title 29, chapter 6.
B. If a benefit corporation is to be created in a merger, a conversion, a domestication or a division, the formation of the corporation must otherwise comply with this chapter.
C. If a merger, an interest exchange, a conversion, a domestication or a division would have the effect of terminating the status of a business corporation as a benefit corporation, the plan must be adopted by at least the minimum status vote in order to be effective.
D. For the purposes of this section:
1. "Conversion" means a transaction authorized by title 29, chapter 6, article 4.
2. "Division" means a transaction authorized by title 29, chapter 6, article 6.
3. "Domestication" means a transaction authorized by title 29, chapter 6, article 5.
4. "Interest exchange" means a transaction authorized by title 29, chapter 6, article 3.
5. "Merger" means a transaction authorized by title 29, chapter 6, article 2.
6. "Plan" means a plan of merger, interest exchange, conversion, domestication or division.