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…
DetailsWhat is Breach of Fiduciary Duty?
November 30, 2018A fiduciary duty is a responsibility to act in the best interests of someone or something else. It is made legally binding either by statute, case law, or by contract. A company’s Board of Directors has a fiduciary duty to shareholders; an attorney has a fiduciary duty to his or her clients. When a breach [&helli…
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