Arizona § 10-622 Liability of subscribers and shareholders

Arizona Statutes

§ 10-622 — Liability of subscribers and shareholders

Arizona·Title 10 Arizona Revised Statutes·Ch. 6 SHARES AND DISTRIBUTIONS·Art. 2 Issuance of Shares

A.A purchaser from a corporation of its own shares is not liable to the corporation or its creditors with respect to the shares except to pay the full consideration for which the shares were authorized to be issued pursuant to section 10-621 or specified in the subscription agreement pursuant to section 10-620.

B.A shareholder of a corporation is not personally liable for the acts or debts of the corporation.

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

A. A purchaser from a corporation of its own shares is not liable to the corporation or its creditors with respect to the shares except to pay the full consideration for which the shares were authorized to be issued pursuant to section 10-621 or specified in the subscription agreement pursuant to section 10-620.

B. A shareholder of a corporation is not personally liable for the acts or debts of the corporation.

Arizona § 10-622 (Liability of subscribers and shareholders) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.