The proposed bill, if enacted, would amend current statutes regarding court costs and attorney fees in appraisal proceedings under section 10-1331 of the Arizona Revised Statutes. Currently, the court determines all costs of the proceeding and assesses them against the corporation, with the possibility of assessing costs against dissenters if certain conditions are met. The bill would clarify that the court costs assessed against the corporation would also apply to any surviving or resulting corporation from a sale, merger, or acquisition.

Additionally, the bill would specify that the fees and expenses of attorneys and experts assessed against the corporation would similarly apply to the surviving or resulting corporation. This change aims to ensure that the financial responsibilities related to appraisal proceedings are clearly defined and extend to all relevant corporate entities involved in such transactions. The bill would remove some existing language that limits the assessment of costs and fees to the original corporation only.

Statutes affected:
Introduced Version: 10-1331
House Engrossed Version: 10-1331