3.2 Challenging a Corporate Act

• Jurisdiction: Arizona

§ 3.2 Challenging a Corporate Act

A.R.S. § 10-3304 states that, except by the methods set forth in A.R.S. §10-3304(B), the validity of corporate action shall not be challenged on the ground that the corporation lacks or lacked power to act. The exclusive method of challenging the validity of a corporate act on the ground that the corporation lacks or lacked the power to act is set forth in A.R.S. § 10-3304(B)(2). Any member of a condominium or planned community can challenge the validity of corporate...