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Arizona Revised Statutes Title 10. Corporations and Associations § 10-2026. Merger, interest exchange, conversion, domestication or division;  definitions

Current as of March 08, 2022 | Updated by FindLaw Staff

A. A domestic cooperative association may be a party to or otherwise undertake a merger, an interest exchange, a conversion, a domestication or a division by complying with chapter 34 of this title   1 and title 29, chapter 6.  2

B. If a domestic cooperative association is to be created in a merger, a conversion, a domestication or a division, the initial members of the association must consist of any of the following:

1. Five or more persons engaged in the production of agricultural products pursuant to § 10-2003, subsection A.

2. Five or more small businesses, individuals or entities engaged in the marketing and distribution of manufactured goods for import and export purposes.

3. Five or more persons for the purpose of producing, manufacturing and selling goods or services.

C. For the purposes of this section, references in chapter 34 of this title to a “corporation” are deemed references to a domestic cooperative association.

D. For the purposes of this section:

1. “Conversion” means a transaction authorized by title 29, chapter 6, article 4.  3

2. “Division” means a transaction authorized by title 29, chapter 6, article 6.  4

3. “Domestication” means a transaction authorized by title 29, chapter 6, article 5.  5

4. “Interest exchange” means a transaction authorized by title 29, chapter 6, article 3.  6

5. “Merger” means a transaction authorized by title 29, chapter 6, article 2.  7

1  Section 10-11101 et seq.
2  Section 29-2101 et seq.
3  Section 29-2401 et seq.
4  Section 29-2601 et seq.
5  Section 29-2501 et seq.
6  Section 29-2301 et seq.
7  Section 29-2201 et seq.
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Cite this article: FindLaw.com - Arizona Revised Statutes Title 10. Corporations and Associations § 10-2026. Merger, interest exchange, conversion, domestication or division;  definitions - last updated March 08, 2022 | https://codes.findlaw.com/az/title-10-corporations-and-associations/az-rev-st-sect-10-2026/

Read this complete Arizona Revised Statutes Title 10. Corporations and Associations § 10-2026. Merger, interest exchange, conversion, domestication or division;  definitions on Westlaw

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