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Arizona’s New LLC Act: Promoting Certainty and Protecting Freedom of Contract (from the 2018 State Bar of AZ Convention)
recorded June 2018
The program analyzes the comprehensive revision of Arizona’s LLC Act that was prepared over a seven-year period by a subcommittee of the Business Law Section and submitted to the Arizona Legislature in January. If enacted, it will apply to new LLCs on September 1, 2019, and to existing LLCs a year later.
PLEASE NOTE: The Comments included are in DRAFT form and are not final.
What You'll Learn
- What is new: Understand how the new LLC Act changes existing law, including new default rules, and how they can be changed in the operating agreement (and the opportunities available to your clients) Does your client’s existing operating agreement need to be revised?
- When it happens: Effective dates and transition rules for new and existing LLCs, and whether to opt in early. How much time do your clients have to react to the new act?
- What is the same: Understand how the new Act preserves important aspects of current law. Will you need to use different formation documents to create LLCs under the new act?
Business Law Section Chairs:
Benjamin Aguilera, Greenberg Traurig LLP
Tabatha LaVoie, LaVoie Law Firm PC
Scott DeWald, Lewis Roca Rothberger Christie LLP
Kevin G. Hunter, Steptoe & Johnson LLP
James W. Reynolds, Tiffany & Bosco PA
Andy G. Anderson, Provident Law
Patricia Barfield,Arizona Corporation Commission
Quinn DeAngelis, Quinn DeAngelis PC
Samuel S. Efird, Fennemore Craig
Gregg Hanks, Fennemore Craig PC
John L. Hay, Gust Rosenfeld PLC
Richard Onsager, Onsager Werner & Oberg PLC
Terence (Terry) Thompson, Gallagher & Kennedy PA
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