10-2231 - Arizona Statutes

10-2231. Voting of shares A. Only a qualified person may be appointed a proxy to vote any voting shares of a professional corporation. B. A voting trust with respect to voting shares of a professional corporation is not valid unless all of its trustees and beneficiaries are qualified persons. If a trustee or beneficiary who is a qualified person dies or dissolves and the person to whom the trusteeship or beneficial interest is to devolve is not a person to whom section 10-2222 would permit the shares held by the trust to be transferred or a trustee or beneficiary becomes disqualified, a voting trust valid under this subsection continues to be valid for ten months after the date of death or for five months after the disqualification occurred.