Arizona § 10-1201 Sale of assets in regular course of business and mortgage of assets

Arizona Statutes

§ 10-1201 — Sale of assets in regular course of business and mortgage of assets

Arizona § 10-1201

Title 10Arizona Revised Statutes

Ch. 12SALE OF ASSETS

Art. 1General Provisions

This text of Arizona § 10-1201 (Sale of assets in regular course of business and mortgage of assets) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 10-1201 (2026).

Text

A.On the terms and conditions and for the consideration determined by the board of directors, a corporation may:

1.Sell, lease, exchange or otherwise dispose of all or substantially all of its property in the usual and regular course of business.

2.Mortgage, pledge, dedicate to the repayment of indebtedness, whether with or without recourse, or otherwise encumber any or all of its property whether or not in the usual and regular course of business.

3.Transfer any or all of its property to a corporation all the shares of which are owned by the corporation.

B.Unless the articles of incorporation require it, approval by the shareholders of a transaction described in subsection A is not required.

Free access — add to your briefcase to read the full text and ask questions with AI

A. On the terms and conditions and for the consideration determined by the board of directors, a corporation may:

1. Sell, lease, exchange or otherwise dispose of all or substantially all of its property in the usual and regular course of business.

2. Mortgage, pledge, dedicate to the repayment of indebtedness, whether with or without recourse, or otherwise encumber any or all of its property whether or not in the usual and regular course of business.

3. Transfer any or all of its property to a corporation all the shares of which are owned by the corporation.

B. Unless the articles of incorporation require it, approval by the shareholders of a transaction described in subsection A is not required.