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Arizona Arizona Revised Statutes

§ 10-2227 — Cancellation of disqualified shares

ARS § 10-2227Title 10. Corporations and Associations · Ch. 20. PROFESSIONAL CORPORATIONS · Art. 3. Shares

Statute text

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10-2227. Cancellation of disqualified shares If the shares of a disqualified shareholder are not acquired pursuant to section 10-2223 within ten months after the death or dissolution of the shareholder or within five months after the disqualification or transfer, the professional corporation shall immediately cancel the shares on its books and the disqualified shareholder shall have no further interest as a shareholder in the corporation other than the right to payment of the price specified in section 10-2223, subsection B.

Source: Arizona Arizona Revised Statutes § 10-2227 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.