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Arizona Arizona Revised Statutes

§ 10-1003 — Amendment by board of directors and shareholders

ARS § 10-1003Title 10. Corporations and Associations · Ch. 10. AMENDMENT OF ARTICLES OF INCORPORATION AND BYLAWS · Art. 1. Amendment of Articles of Incorporation

Statute text

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10-1003. Amendment by board of directors and shareholders A. The following apply to amendments to the articles of incorporation: 1. A corporation's board of directors may propose one or more amendments to the articles of incorporation for submission to the shareholders. 2. For the amendment to be adopted both:
(a)The board of directors shall recommend the amendment to the shareholders unless the board of directors determines that because of conflict of interest or other special circumstances it should make no recommendation and communicates the basis for that determination to the shareholders with the amendment.
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Source: Arizona Arizona Revised Statutes § 10-1003 from the Arizona Revised Statutes (Arizona State Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.