Arizona Arizona Revised Statutes
§ 10-2404 — Election of benefit corporation status
ARS § 10-2404Title 10. Corporations and Associations · Ch. 22. BENEFIT CORPORATIONS · Art. 1. General Provisions
Statute text
View on source10-2404. Election of benefit corporation status A. An existing business corporation may become a benefit corporation under this chapter by amending its articles of incorporation so that they contain, in addition to the requirements of section 10-202, a statement that the corporation is a benefit corporation. In order to be effective, the amendment must be adopted by at least the supermajority status vote. B. If an entity that is not a benefit corporation is a party to a merger or the acquired entity in a share exchange, and the surviving or acquired entity in the merger or share exchange is to be a benefit corporation, the plan of merger or share exchange must be adopted by at least the supermajority status vote.