Arizona § 6-351 - Definitions
Full text of Arizona Arizona Revised Statutes § 6-351 — Definitions, with citation guidance and answers to common questions.
§ 6-351. Definitions
In this article, unless the context otherwise requires:
1. "Capital" means the aggregate primary capital and secondary capital.
2. "Obligation" means a primary or contingent liability for the payment of money.
3. "Person" includes an individual, a corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership, joint venture or association or any other legal or commercial entity.
4. "Primary capital" means the aggregate of the following:
(a) Common and perpetual preferred stock.
(b) Capital surplus.
(c) Undivided profits.
(d) Contingency and other capital reserves.
(e) The allowance for loan and lease losses.
(f) Mandatory convertible debt only to the extent that it does not exceed twenty per cent of the aggregate of subdivisions (a) through (e) of this paragraph.
5. "Secondary capital" means the aggregate of the following:
(a) Limited life preferred stock.
(b) Subordinated notes and debentures.
(c) Mandatory convertible debt not included in primary capital.
Frequently Asked Questions About Arizona § 6-351
What does Arizona Revised Statutes § 6-351 cover?
Section 6-351 ("Definitions") 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 § 6-351?
A common citation format is "Arizona Revised Statutes § 6-351" (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 § 6-351 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.