Do Members of an Arizona LLC Owe Fiduciary Duties to the Company?
October 21, 2019Arizona’s 1992 LLC Act does not impose fiduciary duties on members or managers. Recent cases have held that members do not owe each other fiduciary duties unless the LLC operating agreement provides otherwise. But the case law has been silent on whether members owe fiduciary duties to the company. The Arizona Sup…
DetailsCan I File a Lawsuit Against a Dissolved LLC?
April 17, 2019A limited liability company (LLC) is an independent legal entity, separate from its owners that are known as members. In Arizona, the ability to sue an LLC is only hindered after the LLC has been property dissolved. Officially ending an Arizona LLC’s existence requires a series of steps that begins with dissoluti…
DetailsWhat Does it Take to Become a Member of an LLC in Arizona?
February 13, 2019Arizona law is clear on how a person or entity becomes a member of a limited liability company (LLC). If the legal requirements are not followed, litigation may be necessary to obtain a court order that affirms the ownership of the membership interest in the LLC. Arizona Revised Statutes section 29-731 outlines how…
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