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Home > Statutes > Usa Arizona

USA Statutes : arizona
Title : Corporations and Associations
Chapter : CORPORATE SOLE

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.

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.

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.

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.

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.
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.

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.

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.

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