29-3110. Application to existing relationships

260 words·~1 min read·/az/title-29/29-3110

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A. Before September 1, 2020, this chapter applies only to the following:

1. A limited liability company that is formed, converted or domesticated on or after September 1, 2019 or a registered foreign limited liability company that is registered in this state on or after September 1, 2019.

2. A limited liability company that is formed, converted or domesticated before September 1, 2019 and that elects, in the manner provided in its operating agreement or by law for amending the operating agreement, to be subject to this chapter.

B. On and after September 1, 2020, this chapter applies to all limited liability companies and foreign limited liability companies.

C. For the purposes of applying this chapter to:

1. A limited liability company formed before September 1, 2019, the company's known place of business is deemed to be its principal address and the street address of the company's statutory agent is deemed to be the mailing address of the statutory agent.

2. A registered foreign limited liability company that is registered, in this state before September 1, 2019, the address of the foreign company specified in the foreign company's certificate of registration is deemed to be its principal address and the street address of the foreign company's statutory agent is deemed to be the mailing address of the statutory agent.

D. This chapter does not affect the validity or enforceability of any provision of an operating agreement that was valid or enforceable under any prior statute that was in effect at the time the provision became part of the operating agreement.