Appraisal of interest and payment upon withdrawal or expulsion of member

  1. Law
  2. Arizona Revised Statutes
  3. Corporations and Associations
  4. Appraisal of interest and payment upon withdrawal or expulsion of member

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10-2010. Appraisal of interest and payment upon withdrawal or expulsion of member

If a member withdraws or is expelled, the board of directors shall, within three years after withdrawal or expulsion, equitably appraise his property interest in the association and pay him for that interest. The appraisal is conclusive.


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