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Arizona Arizona Revised Statutes

§ 10-2257 — Temporary board of directors

ARS § 10-2257Title 10. Corporations and Associations · Ch. 21. BUSINESS DEVELOPMENT CORPORATIONS · Art. 1. Formation and Operation

Statute text

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10-2257. Temporary board of directors Until the election of a board of directors under section 10-2258, all of the affairs of the corporation shall be conducted by a temporary board of directors. The temporary board shall consist of fifteen members who shall all be at least eighteen years of age and citizens of the United States and who shall be designated by incorporators of the corporation in the articles of incorporation. Upon the election and qualification of a board of directors under section 10-2258, the temporary board of directors shall be deemed dissolved.

Source: Arizona Arizona Revised Statutes § 10-2257 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.