10-2261. Authorization to commence business
72 words·~1 min read·
/az/title-10/10-2261A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A corporation formed under this chapter shall not begin the transaction of any business, except such as is incident to its organization or to the obtaining of members of subscriptions to or payment for its shares, until it certifies to the deputy director of financial institutions that there has been paid into the corporate treasury a minimum of $100,000 from the sale at par value of the capital stock of the corporation.