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Arizona Revised Statutes Title 10. Corporations and Associations § 10-1816. Court relief other than dissolution, liquidation or appointment of conservator

Current as of January 01, 2025 | Updated by Findlaw Staff

A. The superior court in an action filed either by an investor or by a creditor seeking relief under § 10-1815 shall have full power to make any such order or grant any such relief other than dissolution or liquidation as in its discretion it may deem appropriate including but not limited to:

1. Canceling, altering or amending any provision contained in the articles of incorporation of such close corporation.

2. Directing, prohibiting or enjoining any act of the corporation or other persons who are parties to the court action.

3. Providing for the purchase by the corporation or by other investors at their fair market value of the capital units or claims of the person bringing such action.

B. Relief under this section may be granted even though the court does not find any of the elements prescribed for relief under § 10-1815.

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Cite this article: FindLaw.com - Arizona Revised Statutes Title 10. Corporations and Associations § 10-1816. Court relief other than dissolution, liquidation or appointment of conservator - last updated January 01, 2025 | https://codes.findlaw.com/az/title-10-corporations-and-associations/az-rev-st-sect-10-1816/

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