Arizona § 10-2139 Merger, interest exchange, conversion, domestication or division; definitions

Arizona Statutes

§ 10-2139 — Merger, interest exchange, conversion, domestication or division; definitions

Arizona § 10-2139

Title 10Arizona Revised Statutes

Ch. 19NOT FOR PROFIT CORPORATIONS AND ASSOCIATIONS, COOPERATIVES AND FRATERNAL AND BENEVOLENT SOCIETIES

Art. 4Nonprofit Electric Generation and Transmission Cooperative Corporations

This text of Arizona § 10-2139 (Merger, interest exchange, conversion, domestication or division; definitions) 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. § 10-2139 (2026).

Text

A.A domestic nonprofit electric generation and transmission cooperative corporation may be a party to or otherwise undertake a merger, an interest exchange, a conversion, a domestication or a division by complying with chapter 34 of this title and title 29, chapter 6.

B.Except as set forth in section 10-2141, a plan must be approved by two-thirds of the members.

C.If a domestic nonprofit electric generation and transmission cooperative corporation is to be created in a merger, a conversion, domestication or a division:

1.The initial members of the corporation must consist of two or more electric utilities or persons that fulfill the requirements for being a member as prescribed by section 10-2123.

2.The name of the corporation must comply with section 10-2124.

D.For the purposes

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A. A domestic nonprofit electric generation and transmission cooperative corporation may be a party to or otherwise undertake a merger, an interest exchange, a conversion, a domestication or a division by complying with chapter 34 of this title and title 29, chapter 6.

B. Except as set forth in section 10-2141, a plan must be approved by two-thirds of the members.

C. If a domestic nonprofit electric generation and transmission cooperative corporation is to be created in a merger, a conversion, domestication or a division:

1. The initial members of the corporation must consist of two or more electric utilities or persons that fulfill the requirements for being a member as prescribed by section 10-2123.

2. The name of the corporation must comply with section 10-2124.

D. For the purposes of this section:

1. "Conversion" means a transaction authorized by title 29, chapter 6, article 4.

2. "Division" means a transaction authorized by title 29, chapter 6, article 6.

3. "Domestication" means a transaction authorized by title 29, chapter 6, article 5.

4. "Interest exchange" means a transaction authorized by title 29, chapter 6, article 3.

5. "Merger" means a transaction authorized by title 29, chapter 6, article 2.

6. "Plan" means a plan of merger, interest exchange, conversion, domestication or division.