29-2601. Division authorized
155 words·~1 min read·
/az/title-29/29-2601A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. By complying with this article, a domestic entity may divide into either:
1. The dividing entity and one or more new entities, whether domestic or foreign.
2. Two or more new entities, whether domestic or foreign.
B. A foreign entity may be created by the division of a domestic entity under this article only if the division is authorized by the law of the foreign entity's jurisdiction of organization.
C. A domestic entity may be created by the division of a foreign entity under this article only if the division is authorized by the law of the foreign entity's jurisdiction of organization.
D. If a protected agreement contains a provision that applies to a merger of a domestic entity but does not refer to a division, the provision applies to a division of the entity as if the division were a merger until the agreement is amended after the effective date of this section.