What is a key requirement for a corporation in Arizona according to corporate law?

One of the key requirements for a corporation in Arizona is the obligation to continuously maintain a known place of business and a statutory agent. The statutory agent, also known as a registered agent, serves as the official point of contact for legal documents and government communications. This requirement ensures that there is always a reliable way to reach the corporation for service of process or other important notifications, providing an official location where documents can be delivered. The known place of business serves as an operational base for the corporation, demonstrating its presence and ability to conduct business in Arizona. This foundational structure aids in the legal and procedural integrity of corporations operating within the state.

The other requirements listed, while relevant to corporate operations or best practices, do not reflect the essential legal structure mandated by Arizona law for a corporation to function effectively within the state. For example, having a specific number of directors or shareholders may apply to certain types of corporate structures but is not a universal requirement. Similarly, conducting audits or maintaining minimum capital is not mandated for all corporations, making the requirement to maintain a known place of business and a statutory agent the primary focus for compliance under Arizona corporate law.