Arizona § 10-2259 - Method of incorporation
Full text of Arizona Arizona Revised Statutes § 10-2259 — Method of incorporation, with citation guidance and answers to common questions.
§ 10-2259. Method of incorporation
A. A corporation may be formed by five or more residents of this state who each subscribe to at least one share of stock of the corporation.
B. The articles of incorporation shall set forth:
1. The name of the proposed corporation, which shall include the words "business development corporation".
2. The purpose for which the corporation is to be formed, which shall be within the purposes and powers set forth in this chapter.
3. The location of the principal place of business of the corporation, but the corporation may have offices in such other places in this state as may be fixed by the board of directors.
4. The term of its existence.
5. The authorized capital stock of the corporation.
6. The names and addresses of the incorporators and the amount of their capital stock subscriptions.
7. The names and addresses of eight temporary directors.
8. The name and address of the treasurer.
9. The names and addresses of five qualified banks that have obligated themselves to become members of the corporation at the time of its incorporation.
10. Any other provisions not inconsistent with law that the proposed corporation may adopt governing the regulation and conduct of its affairs.
C. A corporation formed under this chapter may amend its articles of incorporation provided that prior to the filing of articles of amendment with the corporation commission the articles of amendment shall have been approved by the deputy director of financial institutions in the manner and as provided for in section 10-2260.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 10-2259
What does Arizona Revised Statutes § 10-2259 cover?
Section 10-2259 ("Method of incorporation") 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 § 10-2259?
A common citation format is "Arizona Revised Statutes § 10-2259" (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 § 10-2259 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.