A.R.S. tit. 10 ch. 42 — Arizona Revised Statutes Title 10 Chapter 42 — Corporations Sole

A.R.S. § 10-11901 10-11901 - Purposes for which corporation sole may be formed 10-11901. Purposes for which corporation sole may be formed Corporations may be formed to acquire, hold and dispose of church or religious society property for the benefit of religion, for works of charity and for public worship, and of property of scientific research institutions maintained solely for pure research and without expectation of pecuniary gain or profit, in the manner provided in this article. A.R.S. § 10-11902 10-11902 - Requirements for formation 10-11902. Requirements for formation A person vested with the legal title to property of a church or religious society in conformity with its constitution, canons, rites or regulations, and of a scientific research institution maintained solely for pure research and without expectation of pecuniary gain or profit, may make and subscribe to written articles of incorporation, acknowledge them as deeds are required to be acknowledged, file them in the office of the corporation commission and record a duplicate of the articles in the office of the county recorder of each county in which real property of the corporation is situated, together with an impression of the seal which it adopts. A.R.S. § 10-11903 10-11903 - Articles of incorporation; amendment 10-11903. Articles of incorporation; amendment A. The articles of incorporation shall contain: 1. The name of the corporation. 2. The object of the corporation. 3. The estimated value of the property at the time of drawing the articles. 4. The title of the person executing the articles. B. The corporation may amend its articles. The amendment shall be executed by the same person who executed the original articles, or by his successor in office, and shall be filed and recorded as required for the original articles. A.R.S. § 10-11904 10-11904 - Powers of corporation sole 10-11904. Powers of corporation sole Upon executing and filing for record articles of incorporation as provided in this article, the person subscribing thereto and his successor in office by the name or title specified in the articles, shall thereafter be deemed a corporation sole with perpetual succession, and may acquire and possess, by gift, bequest, devise or purchase, and hold property, sell, rent or otherwise dispose of such property, borrow money and give written security therefor, and secure payment thereof by mortgage or other lien. A.R.S. § 10-11905 10-11905 - Execution of instruments 10-11905. Execution of instruments All deeds and other instruments in writing shall be made and signed in the name of the corporation sole in the capacity designated in the articles. A.R.S. § 10-11906 10-11906 - Succession of title and authority 10-11906. Succession of title and authority In the event of the death, resignation or removal of the person who is a corporation sole, his successor in office shall be vested with title to all property held by his predecessor as such corporation sole, with like power and authority over the property, and subject to all the liabilities and obligations with reference thereto. The successor shall file in the office of the corporation commission, and shall record in the office of the county recorder of each county in which any of the real property is situated, a certified copy of the commission, certificate or letter of election or appointment. A.R.S. § 10-11907 10-11907 - Succession of title to religious property held by person not incorporated as corporation sole 10-11907. Succession of title to religious property held by person not incorporated as corporation sole In case of the death, resignation or removal of a person who, at the time of his death, resignation or removal, was holding the title to property for the use or benefit of any church or religious society not incorporated as a corporation sole, the title to such property held by him shall not revert to the donor, nor vest in the heirs of the deceased person, but shall be deemed to be in abeyance after the death, resignation or removal until his successor is duly appointed to fill the vacancy. Upon appointment of a successor, the title to all property held by his predecessor shall at once, without any other act or deed, vest in the person appointed to fill the vacancy. A.R.S. § 10-11908 10-11908 - Officer; director; law applicable to corporations sole 10-11908. Officer; director; law applicable to corporations sole A. The person comprising the corporation sole is the only director and officer for the corporation sole unless the articles or bylaws of the corporation sole contain a contrary designation. B. Corporations sole that are organized pursuant to this article are subject to chapters 24 through 40 of this title except to the extent this article modifies or differs from the provisions of chapters 24 through 40, in which case this article prevails. A.R.S. § 10-11909 10-11909 - Merger, interest exchange, conversion, domestication or division; definitions 10-11909. Merger, interest exchange, conversion, domestication or division; definitions A. A domestic corporation sole may be a party to or otherwise undertake a merger, an interest exchange, a conversion, a domestication or a division by complying with chapter 34 of this title and title 29, chapter 6. B. If a domestic corporation sole is to be created in a merger, a conversion, a domestication or a division: 1. The only member and director of the corporation must be the person comprising the corporation sole in accordance with sections 10-11901 and 10-11908. 2. The articles of incorporation must be recorded as provided by section 10-11902. C. For the purposes of this section, references in chapter 34 of this title to "directors" or "members" are deemed references to the person who is a corporation sole and references to a "corporation" are deemed references to a corporation sole. D. For the purposes of this section: 1. "Conversion" means a transaction authorized by title 29, chapter 6, article 4. 2. "Division" means a transaction authorized by title 29, chapter 6, article 6. 3. "Domestication" means a transaction authorized by title 29, chapter 6, article 5. 4. "Interest exchange" means a transaction authorized by title 29, chapter 6, article 3. 5. "Merger" means a transaction authorized by title 29, chapter 6, article 2.