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Arizona Arizona Revised Statutes

§ 10-740 — Definitions

ARS § 10-740Title 10. Corporations and Associations · Ch. 7. SHAREHOLDERS · Art. 4. Derivative Proceedings

Statute text

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10-740. Definitions In this article, unless the context otherwise requires: 1. "Derivative proceeding" means a civil suit in the right of a domestic corporation or, to the extent provided in section 10-747, in the right of a foreign corporation. 2. "Independent person" means a person with no personal interest in the transaction and no personal or other relationship which influences the person. 3. "Shareholder" includes a beneficial owner whose shares are held in a voting trust or are held by a nominee on the beneficial owner's behalf.

Source: Arizona Arizona Revised Statutes § 10-740 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.