2011 Arizona Revised Statutes
Title 10 Corporations and Associations
10-622 Liability of subscribers and shareholders
10-622. Liability of subscribers and shareholders
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.
Disclaimer: These codes may not be the most recent version. Arizona may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
