Arizona Statutes
§ 10-3614 — Creditor's action against member
Arizona·Title 10 Arizona Revised Statutes·Ch. 29 MEMBERS AND MEMBERSHIP-NONPROFIT CORPORATIONS·Art. 2 Types of Memberships-Members' Rights and Obligations
A.No creditor of the corporation may bring a proceeding to reach the liability of a member to the corporation unless final judgment has been rendered in favor of the creditor against the corporation, and execution has been returned unsatisfied in whole or in part.
B.All creditors of the corporation, with or without reducing their claims to judgment, may intervene in any creditor's proceeding brought under subsection A to reach and apply unpaid amounts due the corporation. Any or all members who owe amounts to the corporation may be joined in that proceeding.
C.In any proceeding by a creditor under this section, the member shall pay any amount that is determined to be owed by the member to the corporation directly to the corporation and not to any creditor. The member is not liable dir
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Nearby Sections
15
§ 10-1001
Authority to amend§ 10-1002
Amendment by board of directors§ 10-1005
Amendment before issuance of shares§ 10-1006
Articles of amendment§ 10-1007
Restated articles of incorporation§ 10-1008
Amendment pursuant to reorganization§ 10-1009
Effect of amendments§ 10-11001
Authority to amend§ 10-11002
Amendment by board of directors