40-1114. Authority subject to law and regulations; nonprofit status

A. An authority shall be subject, in the operation of its transportation facilities and equipment, to the laws and regulations of the state of Arizona and of the applicable municipalities relating to traffic and operation of vehicles on the streets and highways of the state and of the municipalities.

B. The corporation shall be a nonprofit enterprise, and no part of its net earnings remaining after payment of its expenses shall inure to the benefit of any individual, firm or corporation.

40-1114. Authority subject to law and regulations; nonprofit status

A. An authority shall be subject, in the operation of its transportation facilities and equipment, to the laws and regulations of the state of Arizona and of the applicable municipalities relating to traffic and operation of vehicles on the streets and highways of the state and of the municipalities.

B. The corporation shall be a nonprofit enterprise, and no part of its net earnings remaining after payment of its expenses shall inure to the benefit of any individual, firm or corporation.