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New LLC Legislation in Arizona

 

Effective September 1, 2019

Arizona senate bill 1353 was signed by the governor April 10, 2018. The new bill enacts the Uniform Limited Liability Company Act. By the new legislation, existing Arizona LLCs and all Arizona LLCs created after August 31, 2019, will need to adopt an Operating Agreement. The new legislation is said to create many new obligations on members and managers in requiring the disclosure of detailed voting information. Some may choose to form entities in good LLC law states i.e. Delaware or Nevada.

Do you have an Arizona LLC? To avoid liability contact CORPSMART™ for further information about your filing options.

Follow this link to learn more about the new legislation.

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