Arizona Revised Statutes § 10-1631 Civil Liability For False Statements

10-1631. Civil liability for false statements

A. If any report, certificate or other statement made or public notice given by the officers or directors of a corporation is false in a material representation or if any book, record or account of the corporation is knowingly or wrongfully altered, the officers, directors or agents knowingly or wrongfully authorizing, signing or making the false report, certificate, other statement or notice or authorizing or making the wrongful alteration are jointly and severally personally liable to a person who has become a creditor or shareholder of the corporation on the faith of the false material representation or alteration for all damages resulting.

B. An action for the liability imposed by this section shall be commenced within two years after discovery of the false representation or alteration and within six years after the certificate, report, public notice or other statement or the alteration has been made or given by the officers, directors or agents of the corporation.

Section: Previous  10-1603  10-1604  10-1620  10-1621  10-1622  10-1623  10-1630  10-1631  10-1632  10-1633  10-1634  10-1635  10-1701  10-1702  10-1801  Next

Last modified: October 13, 2016