10-11701. Application to existing domestic
corporations
A. Except as provided in subsection B, chapters 24 through 40 of this title apply
to all Arizona corporations that were incorporated under or that were subject to chapter
22 of this title on December 31, 1998.
B. Any existing corporation that was originally organized under the laws of the
territory of Arizona may elect to amend or restate its articles of incorporation and
retain any previously valid provisions of its articles of incorporation, even if the
previously valid provisions of its articles of incorporation are in conflict with any
provisions of chapters 24 through 40 of this title. Upon such amendment or restatement,
all of the provisions of chapters 24 through 40 of this title which are not specifically
in conflict with the amended or restated articles of incorporation shall be applicable to
the existing corporations that were originally organized under the laws of the territory
of Arizona. The previously valid provisions of its articles of incorporation that are
retained shall apply to the existing corporations originally organized under the laws of
the territory of Arizona and to all persons contracting or in any manner dealing with the
corporation, including its members, subscribers, affiliates, directors, officers and
employees.
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