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Arizona – Uniform LLC Act Effective September 1

Arizona’s new Limited Liability Company Act (Senate Bill 1353/Chapter 168 of 2018 signed by the governor April 10, 2018) takes effect September 1, 2019.  The new law governs Arizona LLCs formed on or after September 1, 2019 and existing LLCs that opt in under the new law.  The former LLC act will govern LLCs formed before September 1, 2019 until September 1, 2020, when the new act will govern all LLCs in Arizona. The new law follows the Revised Uniform Limited Liability Company Act to create and amend default LLC operating agreement rules.