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Arizona Arizona Revised Statutes

§ 10-742 — Demand

ARS § 10-742Title 10. Corporations and Associations · Ch. 7. SHAREHOLDERS · Art. 4. Derivative Proceedings

Statute text

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10-742. Demand No shareholder may commence a derivative proceeding until both: 1. A written demand has been made on the corporation to take suitable action. 2. Ninety days have expired from the date the demand was made unless the shareholder has earlier been notified that the demand has been rejected by the corporation or unless the statute of limitations will expire within the ninety days or unless irreparable injury to the corporation would result by waiting for the expiration of the ninety day period.

Source: Arizona Arizona Revised Statutes § 10-742 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.