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Arizona Arizona Revised Statutes

§ 10-1440 — Deposit with department of revenue

ARS § 10-1440Title 10. Corporations and Associations · Ch. 14. DISSOLUTION · Art. 4. Miscellaneous

Statute text

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10-1440. Deposit with department of revenue Assets of a dissolved corporation that should be transferred to a creditor, claimant or shareholder of the corporation who either cannot be found or who is not competent to receive them and does not have a legal representative who is legally competent to receive them shall be reduced to cash and deposited with the unclaimed property division of the department of revenue for safekeeping. When the creditor, claimant, shareholder or legal representative who is legally competent to receive the distributive portion furnishes satisfactory proof of entitlement to the amount deposited, the unclaimed property division of the department of revenue shall pay the creditor, claimant, shareholder or legal representative that amount.

Source: Arizona Arizona Revised Statutes § 10-1440 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.