ARS § 10-11031. Amendment terminating members or redeeming or canceling memberships

ARS § 10-11031. Amendment terminating members or redeeming or canceling memberships2013-10-05T15:04:49+00:00

A. Any amendment to the articles of incorporation or bylaws of a corporation that terminates all members or any class of members or redeems or cancels all memberships or any class of memberships shall be adopted in accordance with section 10-11002, 10-11003, 10-11020 or 10-11021, as applicable, and this section.

B. The members shall approve any amendment described in subsection A of this section by two-thirds of the votes cast by each class.

C. The provisions of section 10-3621 do not apply to any amendment described in subsection A of this section.

Get the free Common Nonprofit Corporation Mistakes Article

FREE

A nonprofit corporation attorney who's formed 235+ Arizona nonprofit corporations wrote this article so people can avoid making common, but costly noprofit corporation mistakes.