Arizona § 10-631 Corporation's acquisition of its own shares

Arizona Statutes

§ 10-631 — Corporation's acquisition of its own shares

Arizona § 10-631

Title 10Arizona Revised Statutes

Ch. 6SHARES AND DISTRIBUTIONS

Art. 3Subsequent Acquisition of Shares by Shareholders and Corporation

This text of Arizona § 10-631 (Corporation's acquisition of its own shares) 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. § 10-631 (2026).

Text

A.A corporation may acquire its own shares, and shares so acquired constitute authorized but unissued shares.

B.If the articles of incorporation prohibit the reissue of acquired shares, the number of authorized shares is reduced by the number of shares acquired, effective on amendment of the articles of incorporation.

C.The board of directors may adopt a statement that is entitled "statement pursuant to section 10-631", that constitutes an amendment to the articles of incorporation, that is effective as provided in section 10-123 and that is effective without shareholder action. The statement must set forth all of the following:

1.The name of the corporation.

2.The reduction in the number of authorized shares, itemized by class and series.

3.The total number of authorized shares

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

A. A corporation may acquire its own shares, and shares so acquired constitute authorized but unissued shares.

B. If the articles of incorporation prohibit the reissue of acquired shares, the number of authorized shares is reduced by the number of shares acquired, effective on amendment of the articles of incorporation.

C. The board of directors may adopt a statement that is entitled "statement pursuant to section 10-631", that constitutes an amendment to the articles of incorporation, that is effective as provided in section 10-123 and that is effective without shareholder action. The statement must set forth all of the following:

1. The name of the corporation.

2. The reduction in the number of authorized shares, itemized by class and series.

3. The total number of authorized shares, itemized by class and series, remaining after reduction of the shares.