Arizona § 28-8424 - Nonprofit corporation lessees; status; authority; exemptions
Full text of Arizona Arizona Revised Statutes § 28-8424 — Nonprofit corporation lessees; status; authority; exemptions, with citation guidance and answers to common questions.
§ 28-8424. Nonprofit corporation lessees; status; authority; exemptions
A. A nonprofit corporation that is a lessee as provided in section 28-8423:
1. Is a validly organized and existing body politic and corporate exercising its powers for the benefit of the people, for the improvement of the people's health and welfare and for the increase of the people's traffic and prosperity.
2. Is engaged in a public purpose essential to transportation and communication.
3. Performs an essential governmental function as an agency or instrumentality of the city, town, county or state.
4. Is exempt from property taxation by this state or an agency of this state.
5. Possesses and may exercise police powers and other governmental powers on the terms, conditions, limitations, restrictions and agreements provided in the lease agreements.
6. May issue bonds, incur obligations and pledge its revenues as security for the payment of bonds and obligations for airport and air terminal purposes to the extent provided by the lease agreement as it exists or as it may be amended, without regard to any statutory limitation of indebtedness of corporations having authorized capital stock.
B. The following do not apply to a nonprofit corporation that leases the Grand Canyon national park airport as provided in section 28-8423:
1. Chapter 20, article 2 of this title.
2. Title 33, chapter 7, article 6.
3. Title 41, chapter 4, article 5 and 6.
4. Title 41, chapter 6.
5. Title 41, chapter 23.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 28-8424
What does Arizona Revised Statutes § 28-8424 cover?
Section 28-8424 ("Nonprofit corporation lessees; status; authority; exemptions") 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 § 28-8424?
A common citation format is "Arizona Revised Statutes § 28-8424" (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 § 28-8424 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.