United Bank v. Sun Valley Door & Supply, Inc.

OPINION

CONTRERAS, Judge.

This is an appeal from the granting of summary judgment and a decree of foreclosure in favor of the plaintiff-appellee United Bank of Arizona (United Bank). The issue we must decide is whether and to what extent an involuntarily dissolved corporation may wind up its affairs pursuant to A.R.S. § 10-105. Because we conclude that the actions of the involuntarily dissolved corporation fall within the meaning and intent of A.R.S. § 10-105, we affirm the granting of summary judgment.

FACTS

On May 1, 1979, plaintiff-appellee United Bank extended a $300,000 line of credit to…