Arizona Statutes
§ 40-811 — Contracting debt exceeding means of corporation to pay; classification; validity of debt
Arizona § 40-811
JurisdictionArizona
Title 40Arizona Revised Statutes
Ch. 4RAILROADS
Art. 1Organization, General Powers and Duties
This text of Arizona § 40-811 (Contracting debt exceeding means of corporation to pay; classification; validity of debt) 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. § 40-811 (2026).
Text
A.Every officer, agent or stockholder of a railroad company, who knowingly assents to or has any agency in contracting a debt by or on behalf of such company, unauthorized by law for the purpose, the amount of which debt with other debts of the company exceeds the means for payment of its debts available, in its possession, under its control and belonging to it at the time such debt is contracted, including its bona fide and available stock subscriptions and exclusive of its real property, is guilty of a class 2 misdemeanor.
B.The validity of the debt as against the company is not affected by the provisions of subsection A.
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Nearby Sections
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Unclaimed freight or baggage§ 40-1003
Inspection; record of sale§ 40-1004
Proceeds of sale; disposition§ 40-1005
Perishable freight or baggage§ 40-103
Corporation commission seal§ 40-106
Legal services§ 40-110
Consumer services section§ 40-1111
DefinitionsCite This Page — Counsel Stack
Bluebook (online)
Arizona § 40-811, Counsel Stack Legal Research, https://law.counselstack.com/statute/az/40-811.