Arizona § 40-811 - Contracting debt exceeding means of corporation to pay; classification; validity of debt
Full text of Arizona Arizona Revised Statutes § 40-811 — Contracting debt exceeding means of corporation to pay; classification; validity of debt, with citation guidance and answers to common questions.
§ 40-811. Contracting debt exceeding means of corporation to pay; classification; validity of debt
A. Every officer, agent or stockholder of a railroad company, who knowingly assents to or has any agency in contracting a debt by or on behalf of such company, unauthorized by law for the purpose, the amount of which debt with other debts of the company exceeds the means for payment of its debts available, in its possession, under its control and belonging to it at the time such debt is contracted, including its bona fide and available stock subscriptions and exclusive of its real property, is guilty of a class 2 misdemeanor.
B. The validity of the debt as against the company is not affected by the provisions of subsection A.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 40-811
What does Arizona Revised Statutes § 40-811 cover?
Section 40-811 ("Contracting debt exceeding means of corporation to pay; classification; validity of debt") 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 § 40-811?
A common citation format is "Arizona Revised Statutes § 40-811" (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 § 40-811 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.