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. Unless otherwise expressly provided in the articles of incorporation or in bylaws approved by the shareholders of an issuing public corporation, the issuing public corporation may call for redemption of all but not less than all shares referred to in section 10-2725, subsection A acquired in a control share acquisition at a redemption price equal to the market value of the shares at the time the call for redemption is given if either:
1. An information statement has not been delivered to the issuing public corporation by the acquiring person by the tenth day after the control share acquisition.
2. An information statement has been delivered but the shareholders have voted not to accord voting rights to such shares pursuant to section 10-2725, subsection B.
B. If exercising its redemption right pursuant to this section, the issuing public corporation shall give the acquiring person written notice of the call for redemption within thirty days after the event giving the issuing public corporation the option to call the shares for redemption and the shares shall be redeemed within sixty days after the call is given.