Arizona Arizona Revised Statutes

§ 10-2433 — Right of action

ARS § 10-2433Title 10. Corporations and Associations · Ch. 22. BENEFIT CORPORATIONS · Art. 3. Accountability

Statute text

10-2433. Right of action A. Except in a benefit enforcement proceeding, a person may not bring an action or assert a claim against a benefit corporation or its directors or officers with respect to either of the following: 1. The failure to pursue or create general public benefit or a specific public benefit set forth in its articles of incorporation. 2. The violation of an obligation, duty or standard of conduct under this chapter. B. A benefit corporation is not liable for monetary damages under this chapter for any failure of the benefit corporation to pursue or create general public benefit or a specific public benefit. C. A benefit enforcement proceeding may be commenced or maintained only by either of the following: 1. Directly by the benefit corporation. 2. Derivatively in accordance with chapter 7, article 4 of this title by any of the following:

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