41-320. Competency of bank and corporation notaries
170 words·~1 min read·
/az/title-41/41-320A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. It is lawful for a notary public who is a stockholder, director, officer or employee of a corporation to take the acknowledgment or oath of any party to any record executed to or by the corporation, or to administer an oath to any other stockholder, director, officer, employee or agent of the corporation, or to protest for nonacceptance or nonpayment of bills of exchange, drafts, checks, notes and other negotiable instruments that may be owned or held for collection by the corporation.
B. It is unlawful for any notary public to take the acknowledgment of a record executed by or to a corporation of which the notary public is a stockholder, director, officer or employee, where the notary public is a party to the record, either individually or as a representative of the corporation, or to protest any negotiable instrument owned or held for collection by the corporation, where the notary is individually a party to the instrument. A notarial act performed in violation of this subsection is voidable.