{"data":{"id":"us-az/a.r.s.-10-1817","jurisdiction":"us-az","citation":"A.R.S. § 10-1817","heading":"Merger, interest exchange, conversion, domestication or division; definitions","body":"A. A domestic close corporation may be a party to or otherwise undertake a merger, an interest exchange, a conversion, a domestication or a division by complying with chapters 11 and 13 of this title and title 29, chapter 6. For the purposes of this subsection:\n\n1. References in chapters 11 and 13 of this title to:\n\n(a) \"Directors\" are deemed references to managers.\n\n(b) \"Shares\" are deemed references to capital units.\n\n(c) \"Shareholders\" are deemed references to investors.\n\n2. References in title 29, chapter 6 to:\n\n(a) \"Governors\" are deemed references to managers.\n\n(b) \"Interest holders\" are deemed references to investors.\n\n(c) \"Interests\" are deemed references to capital units.\n\nB. A plan of merger must be approved by all of the investors.\n\nC. A plan of conversion must be approved by at least two-thirds of the investors.\n\nD. A plan of interest exchange, domestication or division must be approved by a majority of the investors.\n\nE. If a domestic close corporation is to be created in a merger, a conversion, a domestication or a division, the number of investors in the corporation on the effective date of the transaction may not exceed ten investors.\n\nF. For the purposes of this section:\n\n1. \"Conversion\" means a transaction authorized by title 29, chapter 6, article 4.\n\n2. \"Division\" means a transaction authorized by title 29, chapter 6, article 6.\n\n3. \"Domestication\" means a transaction authorized by title 29, chapter 6, article 5.\n\n4. \"Interest exchange\" means a transaction authorized by title 29, chapter 6, article 3.\n\n5. \"Merger\" means a transaction authorized by title 29, chapter 6, article 2.","path":["Title 10 Corporations and Associations"],"source_url":"https://www.azleg.gov/ars/10/01817.htm","current_through":"2026-09-04","vintage":"2026-08-09","retrieved_at":"2026-09-04T00:49:56Z","sha256":"1238c7a9585e5afc233595bf3fbb7e4b9d0482bb79702b8d5c8704cf2c63409e","source_id":"us-az","stale":true,"prev":"us-az/a.r.s.-10-1816","next":"us-az/a.r.s.-10-1841"},"notice":"GroundRules: Original legal text. Not legal advice."}