10-2251. Definitions
139 words·~1 min read·
/az/title-10/10-2251A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In this chapter, unless the context otherwise requires:
1. "Bank" means any banking corporation or national banking association.
2. "Corporation" means a business development corporation formed under this chapter.
3. "Deputy director of financial institutions" means the deputy director of the financial institutions division of the department of insurance and financial institutions.
4. "Member" means any bank or federal or state savings and loan association authorized to do business within this state that shall undertake to lend money to the corporation on its call and in accordance with this chapter.
5. "Shareholder" means a registered owner of shares in a corporation formed under the provisions of this chapter.
6. "Shares" means units into which the shareholders' rights to participate in the control of a corporation, in its surplus or profits, or in the distribution of its assets, are divided.