10-1802. Definitions


In this article, unless the context otherwise requires:


1. "Capital units" means the proportions of the proprietary interest in the
corporation owned by the investors.


2. "Commission" means the Arizona corporation commission.


3. "Corporation" or "close corporation" means a corporation for profit organized
pursuant to the provisions of this article.


4. "Good faith" or "in good faith" means an act or thing done when it is in fact
done honestly, whether it be done negligently or not.


5. "Investor" means one who is the owner of capital units in a close corporation.


6. "Manager" means the person or persons named in the articles of incorporation
either originally or by amendment thereto in the capacity of manager or assistant manager
and does not include any person who is not so named.