9-216 - Arizona Statutes

9-216. Determination of election results; establishment of new corporation A. Within ten days after the election, the board of supervisors shall meet and canvass the returns. B. If it appears from the certificate of the officers of the election that a majority of the votes cast at the election were against disincorporation, the board shall by order, entered on their record, declare the petition for disincorporation denied, and no new election shall be held on the question submitted until after the expiration of one year from the date of the election. C. If it appears that the vote at the election was a tie vote, the board may immediately order another election in the same manner as the first election. D. If it appears that a majority of the votes cast were in favor of disincorporation, the board shall cause to be entered upon their record an order that the petition for disincorporation is granted, and declaring that the corporation is disincorporated, the order to take effect after the organization of the corporate government created and organized pursuant to this article to succeed the corporation so disincorporated. E. The corporation so created to succeed the disincorporated corporation shall not exist until the trustees provided for in this article make a certificate of the qualification of the trustees and the appointment and qualification of the officers provided in this article to be appointed by the trustees for the new corporation. The certificate shall be filed in the office of the board and entered upon their record. Thereupon the old corporation shall be disincorporated, and the new corporation shall have perpetual existence as a body corporate and politic under and by such name as the board may, by order to be entered upon their record, give to it.