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Arizona Arizona Revised Statutes

§ 10-2261 — Authorization to commence business

ARS § 10-2261Title 10. Corporations and Associations · Ch. 21. BUSINESS DEVELOPMENT CORPORATIONS · Art. 1. Formation and Operation

Statute text

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10-2261. Authorization to commence business A corporation formed under this chapter shall not begin the transaction of any business, except such as is incident to its organization or to the obtaining of members of subscriptions to or payment for its shares, until it certifies to the deputy director of financial institutions that there has been paid into the corporate treasury a minimum of $100,000 from the sale at par value of the capital stock of the corporation.

Source: Arizona Arizona Revised Statutes § 10-2261 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.