10-2706. Application

184 words·~1 min read·/az/title-10/10-2706

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A. This chapter applies only to issuing public corporations and to corporations which elect pursuant to subsection C of this section to be subject to:

1. All of the provisions of this article.

2. All of the provisions of article 2 of this chapter.

3. All of the provisions of article 3 of this chapter.

4. Any combination of paragraph 1, 2 or 3.

B. A corporation may not elect to be subject to less than all of the provisions in any article of this chapter. A corporation which elects to be subject to all or part of this chapter pursuant to subsection C of this section, for purposes of applying the provisions of this chapter or part of this chapter, shall be deemed an issuing public corporation.

C. An election by a corporation pursuant to subsection A of this section must be contained either:

1. In its articles of incorporation at the time of incorporation.

2. In an amendment to its articles of incorporation or bylaws which is approved by the shareholders holding a majority of the outstanding voting power of all shares.