Arizona Revised Statutes (Last Updated: March 31, 2016) |
Title 10. Corporations and Associations |
Chapter 21. BUSINESS DEVELOPMENT CORPORATIONS |
Article 1. Formation and Operation |
Sec 10-2264. Members as agents for corporations
Latest version.
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A corporation may by contract authorize and empower any member to act as agent for the corporation in the carrying out of the purposes for which such corporation was formed and to render to the corporation such administrative auditing, collecting and other related fiscal services as shall be deemed by the directors necessary for the proper and efficient operation and management of the corporation.