Arizona Clauses Relating to Capital Calls
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How to fill out Clauses Relating To Capital Calls?
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FAQ
§ 10-821 - Action by directors without meeting. A. Unless the articles of incorporation or bylaws provide otherwise, action required or permitted by chapters 1 through 17 of this title to be taken at a directors' meeting may be taken without a meeting if the action is taken by all of the directors.
§ 29-3401 Becoming a member; transferable interest; ownership of interest in limited liability company. A. At the time of formation, a limited liability company must have at least one member.
Section 3901D of the Arizona statute provides that an Arizona resident who is a creditor of the series of a non-Arizona LLC can get at all the assets of the LLC, notwithstanding the laws of the state where the LLC was organized.
A. Management of a limited liability company is reserved to its members unless the Articles of Organization provide that the company is managed by one or more managers. B.
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session.
§§ 29-3102 and 29- 3105 through 29-3107. An operating agreement is not required by statute. If there is not operating agreement, then the LLC statutes will govern how the LLC conducts its affairs. Your needs may not be addressed by those statutory provisions, and, therefore, you might want an operating agreement.
Yes. The same person can be both the only member and the only manager. What if my LLC has a "managing member"? The records of the Arizona Corporation Commission will reflect only members or managers ? no ?managing member? can be listed.
On September 1, 2020, the Arizona Limited Liability Company Act, which became law in 2018, repealed Arizona's LLC statutes and replaced them with a new and "improved" model that is more consistent with the laws of most other states - but also poses risks for unwary LLC managers and members.