Arizona § 10-2225 - Court action to appraise shares
Full text of Arizona Arizona Revised Statutes § 10-2225 — Court action to appraise shares, with citation guidance and answers to common questions.
§ 10-2225. Court action to appraise shares
A. If a disqualified shareholder does not accept the professional corporation's offer under section 10-2224, subsection B within the thirty day period or if the professional corporation does not make an offer pursuant to section 10-2224, subsection A within the applicable time period, the shareholder during the following thirty day period may deliver a written notice to the corporation demanding that it commence a proceeding to determine the fair value of the shares. The corporation may commence a proceeding at any time during the sixty days following the effective date of its offer notice. If it does not do so within the sixty day period or thirty days after the shareholder demand, whichever is earlier, the shareholder may commence a proceeding against the corporation to determine the fair value of its shares.
B. The corporation or disqualified shareholder shall commence the proceeding in the superior court in the county in which the corporation's principal office is located or, if the corporation's principal office is not located in this state, the county in which the corporation's known place of business is located. The corporation shall make the disqualified shareholder a party to the proceeding as in an action against the disqualified party's shares. The jurisdiction of the court in which the proceeding is commenced is plenary and exclusive.
C. The court may appoint one or more persons as appraisers to receive evidence and recommend a decision on the question of fair value. The appraisers have the power described in the order appointing them, or in any amendment to it.
D. The disqualified shareholder is entitled to judgment for the fair value of the disqualified shareholder's shares determined by the court as of the date of death, dissolution, disqualification or transfer together with interest from that date at a rate found by the court to be fair and equitable.
E. The court may order the judgment to be paid in installments determined by the court.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 10-2225
What does Arizona Revised Statutes § 10-2225 cover?
Section 10-2225 ("Court action to appraise shares") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 10-2225?
A common citation format is "Arizona Revised Statutes § 10-2225" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 10-2225 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.