Arizona Revised Statutes Title 10. Corporations and Associations § 10-3864. Conflict of interest policy; exceptions

1. A corporation that had assets at the end of its last fiscal year with a book value of less than ten million dollars, net of accumulated depreciation, or had gross receipts or revenues of less than two million dollars in its last fiscal year.

2. A corporation that offers goods or services only to members who are entitled to vote for its board of directors.

3. A corporation organized for religious purposes that does not have, as a substantial portion of its business, the offering of goods or services on a regular basis to the public for remuneration.

4. A corporation organized by or on behalf of the United States, this state, a political subdivision of this state or an agency or instrumentality of such a governmental entity.

5. A hospital, medical, dental or optometric service corporation licensed pursuant to title 20, chapter 4, article 3.  1

1. Goods and services include medical, hospital, dental or counseling or social services offered on a regular basis to the public for remuneration.

2. A corporation organized for religious purposes includes a corporation or foreign corporation that controls or is controlled directly or indirectly by a corporation or foreign corporation organized for religious purposes.