10-2107. Merger, interest exchange, conversion, domestication or division; definitions A. A fraternal or benevolent society may be a party to or otherwise undertake a merger, an interest exchange, a conversion, a domestication or a division by complying with chapter 34 of this title and title 29, chapter 6. B. For the purposes of this section, references in chapter 34 of this title to ' directors' are deemed references to trustees, and references to a ' corporation' are deemed references to a fraternal or benevolent society. C. If a fraternal or benevolent society governed by this article is to be created in a merger, a conversion, a domestication or a division: 1. The initial members of the society must be members of the type described in section 10-2101. 2. The trustees of the society must be members of the society and must be not less than three nor more than nine in number in accordance with section 10-2101. D. For the purposes of this section: 1. ' Conversion' means a transaction authorized by title 29, chapter 6, article 4. 2. ' Division' means a transaction authorized by title 29, chapter 6, article 6. 3. or the purposes of this section: 1. ' Conversion' means a transaction authorized by title 29, chapter 6, article 4. 2. ' Division' means a transaction authorized by title 29, chapter 6, article 6. 3. ' Domestication' means a transaction authorized by title 29, chapter 6, article 5. 4. ' Interest exchange' means a transaction authorized by title 29, chapter 6, article 3. 5. ' Merger' means a transaction authorized by title 29, chapter 6, article 2.
Arizona Legal Code