10-3140

10-3140. Definitions

In chapters 24 through 40 of this title, unless the context otherwise requires:

1. "Acknowledged" or "acknowledgment" means either an acknowledgment pursuant to
title 33, chapter 4, article 5 or the signature, without more, of the person or persons
signing the instrument, in which case the signature or signatures constitute the
affirmation or acknowledgment of the signatory, under penalties of perjury, that the
instrument is the act and deed of the signatory and that the facts stated in the
instrument are true.

2. "Act of the board of directors" means either:

(a) An act of the majority of the directors present at a duly called meeting at
which a quorum is present, unless the act of a greater number is required by chapters 24
through 40 of this title, the articles of incorporation or the bylaws.

(b) Action taken by written consent of the directors in accordance with chapters 24
through 40 of this title.

3. "Act of the members" means either:

(a) An act adopted or rejected by a majority of the votes represented and voting at
a duly held meeting at which a quorum is present where affirmative votes also constitute
a majority of the required quorum unless a greater number of votes is required by
chapters 24 through 40 of this title, the articles of incorporation or the bylaws.

(b) An action taken by written consent of the members in accordance with chapters
24 through 40 of this title.

4. "Address" means a mailing address.

5. "Affiliate" means a person that directly or indirectly through one or more
intermediaries controls, is controlled by or is under common control with the person
specified.

6. "Articles of incorporation" means the original or restated articles of
incorporation or articles of merger and all amendments to the articles of incorporation
or merger and includes amended and restated articles of incorporation and articles of
amendment and merger.

7. "Board", "board of directors" or "board of trustees" means the group of persons
vested with the direction of the affairs of the corporation irrespective of the name by
which the group is designated, except that no person or group of persons shall be deemed
to be the board of directors solely because of powers delegated to that person or group
pursuant to section 10-3801, subsection C.

8. "Business day" means a day that is not a Saturday, a Sunday or any other legal
holiday in this state.

9. "Bylaws" means the code of rules adopted for the regulation or management of the
affairs of the corporation irrespective of the name by which those rules are designated.

10. "Certificate of disclosure" means the certificate of disclosure described in
section 10-3202.

11. "Class" refers to a group of memberships that have the same rights with respect
to voting, dissolution, redemption and transfer. Rights are the same if they are
determined by a formula applied uniformly.

12. "Commission" means the Arizona corporation commission.

13. "Conspicuous" means so written that a reasonable person against whom the writing
is to operate should have noticed it. For example, printing in italics, boldface or
contrasting color or typing in capitals or underlined is conspicuous.

14. "Corporation" or "domestic corporation" means a nonprofit corporation that is
not a foreign corporation and that is incorporated under or subject to chapters 24
through 40 of this title.

15. "Corporation sole" means a corporation formed pursuant and subject to chapter
42, article 1 of this title.

16. "Court" means the superior court of this state.

17. "Delegates" means those persons elected or appointed to vote in a representative
assembly for the election of a director or directors or on other matters.

18. "Deliver" includes mail, private courier, fax or electronic mail.

19. "Delivery" means actual receipt by the person or entity to which directed.

20. "Directors" or "trustees" means individuals, designated in the articles of
incorporation or bylaws or elected by the incorporators, and their successors and
individuals elected or appointed by any other name or title to act as members of the
board.

21. "Dissolved" means the status of a corporation on either:

(a) Effectiveness of articles of dissolution pursuant to section 10-11403,
subsection B or section 10-11421, subsection B.

(b) A decree pursuant to section 10-11433, subsection B becoming final.

22. "Distribution" means a direct or indirect transfer of money or other property or
incurrence of indebtedness by a corporation to or for the benefit of its members in
respect of any of its membership interests. A distribution may be in the form of any of
the following:

(a) A declaration of payment of a dividend.

(b) Any purchase, redemption or other acquisition of membership interests.

(d) Otherwise.

23. "Effective date of notice" is prescribed in section 10-3141.

24. "Electronic mail" means an electronic record as defined in section 44-7002 and
that is sent pursuant to section 44-7015, subsection A.

25. "Employee" means an officer, director or other person who is employed by the
corporation.

26. "Entity" includes a corporation, foreign corporation, not for profit
corporation, business corporation, foreign business corporation, profit and not for
profit unincorporated association, close corporation, corporation sole, limited liability
company or registered limited liability partnership, a professional corporation,
association or limited liability company or registered limited liability partnership, a
business trust, estate, partnership, trust or joint venture, two or more persons having a
joint or common economic interest, any person other than an individual and a state, the
United States and a foreign government.

27. "Executed by the corporation" means executed by manual or facsimile signature on
behalf of the corporation by a duly authorized officer or, if the corporation is in the
hands of a receiver or trustee, by the receiver or trustee.

28. "Filing" means the commission completing the following procedure with respect to
any document delivered for that purpose:

(a) Determining that the filing fee requirements of this title have been satisfied.

(b) Determining that the document appears in all respects to conform to the
requirements of chapters 24 through 40 of this title.

(c) On making the determinations, endorsement of the word "filed" with the
applicable date on or attached to the document and the return of copies to the person who
delivered the document or the person's representative.

29. "Foreign corporation" means a corporation that is organized under a law other
than the law of this state and that would be a nonprofit corporation if formed under the
laws of this state.

30. "Governmental subdivision" includes an authority, county, district, municipality
and political subdivision.

31. "Includes" and "including" denotes a partial definition.

32. "Individual" includes the estate of an incompetent individual.

33. "Insolvent" means inability of a corporation to pay its debts as they become due
in the usual course of its business.

34. "Known place of business" means the known place of business required to be
maintained pursuant to section 10-3501.

35. "Mail", "to mail" or "have mailed" means to deposit or have deposited a
communication in the United States mail with first class postage prepaid.

36. "Means" denotes an exhaustive definition.

37. "Member" means, without regard to what a person is called in the articles of
incorporation or bylaws, any person or persons who, pursuant to a provision of a
corporation's articles of incorporation or bylaws, have the right to vote for the
election of a director or directors. A person is not a member by virtue of any of the
following:

(a) Any rights that person has as a delegate.

(b) Any rights that person has to designate a director or directors.

(d) Being referred to as a member in the articles of incorporation, bylaws or any
other document, if the person does not have the right to vote for the election of a
director or directors.

38. "Membership" refers to the rights and obligations a member or members have
pursuant to a corporation's articles of incorporation, bylaws and chapters 24 through 40
of this title.

39. "Newspaper" has the same meaning prescribed in section 39-201.

40. "Notice" and "notify" are prescribed in section 10-3141.

41. "Person" includes individual and entity.

42. "President" means that officer designated as the president in the articles of
incorporation or bylaws or, if not so designated, that officer authorized in the articles
of incorporation, bylaws or otherwise to perform the functions of the chief executive
officer, irrespective of the name by which designated.

43. "Principal office" means the office, in or out of this state, so designated in
the annual report where the principal executive offices of a domestic or foreign
corporation are located or in any other document executed by the corporation by an
officer and delivered to the commission for filing. If an office has not been so
designated, principal office means the known place of business of the corporation.

44. "Proceeding" includes a civil suit and a criminal, administrative and
investigatory action.

45. "Publish" means to publish in a newspaper of general circulation in the county
of the known place of business for three consecutive publications.

46. "Record date" means the date, if any, established under chapter 29 or 30 of this
title on which a corporation determines the identity of its members and their membership
interests for purposes of chapters 24 through 40 of this title. The determinations shall
be made as of the close of business on the record date unless another time for doing so
is specified when the record date is fixed.

47. "Secretary" means that officer designated as the secretary in the articles of
incorporation or bylaws or that officer authorized in the articles of incorporation, the
bylaws or otherwise to perform the functions of secretary, irrespective of the name by
which designated.

48. "State" if referring to a part of the United States, includes a state and
commonwealth and their agencies and governmental subdivisions and a territory and insular
possession of the United States and their agencies and governmental subdivisions.

49. "Treasurer" means that officer designated as the treasurer in the articles of
incorporation or bylaws or that officer authorized in the articles of incorporation,
bylaws or otherwise to perform the functions of treasurer, irrespective of the name by
which designated.

50. "United States" includes a district, authority, bureau, commission and
department and any other agency of the United States.

51. "Vice-president" means an officer designated as a vice-president in the articles
of incorporation or bylaws or an officer authorized in the articles of incorporation, the
bylaws or otherwise to perform the functions of a vice-president, irrespective of the
name by which designated.

52. "Vote" includes authorization by written ballot and written consent.

53. "Voting power" means the total number of votes entitled to be cast for the
election of directors at the time the determination of voting power is made, excluding a
vote that is contingent on the happening of a condition or event that has not occurred at
the time. If a class is entitled to vote as a class for directors, the determination of
voting power of the class shall be based on the percentage of the number of directors the
class is entitled to elect out of the total number of authorized directors.