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Arizona Revised Statutes Title 10. Corporations and Associations § 10-2244. Authority to transact business

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

A. Except as provided in subsection C of this section, a foreign professional corporation shall not transact business in this state until it is granted authority to transact business in this state from the commission.

B. A foreign professional corporation may not obtain authority to transact business in this state unless:

1. Its corporate name satisfies the requirements of § 10-2215.

2. It is incorporated for one or more of the purposes described in § 10-2211.

3. At least one-half of its shareholders who are entitled to vote for the election of directors, at least one-half of its directors and its president, if any, are licensed in one or more states to render a professional service described in its articles of incorporation.

C. A foreign professional corporation is not required to obtain authority to transact business in this state unless it maintains or intends to maintain an office in this state for the conduct of business or professional practice.

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Cite this article: FindLaw.com - Arizona Revised Statutes Title 10. Corporations and Associations § 10-2244. Authority to transact business - last updated March 08, 2022 | https://codes.findlaw.com/az/title-10-corporations-and-associations/az-rev-st-sect-10-2244/

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