Arizona § 10-2222 Share transfer restriction

Arizona Statutes

§ 10-2222 — Share transfer restriction

Arizona·Title 10 Arizona Revised Statutes·Ch. 20 PROFESSIONAL CORPORATIONS·Art. 3 Shares

A.Voting shares, fractional voting shares and rights or options to purchase voting shares of a professional corporation that are held by persons described in section 10-2220, subsection A, paragraphs 1, 2 and 3 may be transferred or pledged, whether voluntarily, involuntarily, by operation of law or by court judgment or otherwise, only to those persons. Voting shares, fractional voting shares and rights or options to purchase voting shares of a professional corporation that are held by persons described in section 10-2220, subsection A, paragraph 4 may be transferred or pledged, whether voluntarily, involuntarily, by operation of law or by court judgment or otherwise, only to persons qualified under section 10-2220 to be issued voting shares.

B.A transfer or pledge made in violation of

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A. Voting shares, fractional voting shares and rights or options to purchase voting shares of a professional corporation that are held by persons described in section 10-2220, subsection A, paragraphs 1, 2 and 3 may be transferred or pledged, whether voluntarily, involuntarily, by operation of law or by court judgment or otherwise, only to those persons. Voting shares, fractional voting shares and rights or options to purchase voting shares of a professional corporation that are held by persons described in section 10-2220, subsection A, paragraph 4 may be transferred or pledged, whether voluntarily, involuntarily, by operation of law or by court judgment or otherwise, only to persons qualified under section 10-2220 to be issued voting shares.

B. A transfer or pledge made in violation of subsection A of this section is void.

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