Arizona Revised Statutes (Last Updated: March 31, 2016) |
Title 10. Corporations and Associations |
Chapter 37. DISSOLUTION-NONPROFIT CORPORATIONS |
Article 3. Judicial Dissolution |
Sec 10-11431. Procedure for judicial dissolution
Latest version.
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A. Venue for a proceeding by the attorney general to dissolve a corporation or for a proceeding brought by any other party named in section 10-11430 is in the county where a corporation's known place of business is or was last located.
B. It is not necessary to make directors or members parties to a proceeding to dissolve a corporation unless relief is sought against them personally.
C. A court in a proceeding brought to dissolve a corporation may issue injunctions, appoint a receiver with all powers and duties the court directs, take other action required to preserve the corporate assets wherever located and carry on the activities of the corporation until a full hearing can be held.