10-1701. Application to existing domestic
corporations
A. Except as provided in subsection B, beginning January 1, 1996 chapters 1 through
17 of this title apply to all Arizona corporations that were incorporated under or that
were subject to chapter 1, articles 1 through 12 of this title on December 31, 1995.
B. Beginning January 1, 1996, 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 1 through 17 of this title. Upon such
amendment or restatement, all of the provisions of chapters 1 through 17 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 shareholders,
subscribers, affiliates, directors, officers and employees.
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