Arizona Revised Statutes (Last Updated: March 31, 2016) |
Title 10. Corporations and Associations |
Chapter 20. PROFESSIONAL CORPORATIONS |
Article 4. Governance |
Sec 10-2231. Voting of shares
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A. Only a qualified person may be appointed a proxy to vote any voting shares of a professional corporation.
B. A voting trust with respect to voting shares of a professional corporation is not valid unless all of its trustees and beneficiaries are qualified persons. If a trustee or beneficiary who is a qualified person dies or dissolves and the person to whom the trusteeship or beneficial interest is to devolve is not a person to whom section 10-2222 would permit the shares held by the trust to be transferred or a trustee or beneficiary becomes disqualified, a voting trust valid under this subsection continues to be valid for ten months after the date of death or for five months after the disqualification occurred.