Sections
Article 1 General Provisions 29-601 – 29-615
Article 2 Formation and Articles of Organization 29-631 – 29-637
Article 3 Relationship of Limited Liability Company and Members to Third Persons 29-651 – 29-657
Article 4 Member Relationships 29-681 – 29-683
Article 5 Contributions and Distributions 29-701 – 29-709
Article 6 Members 29-731 – 29-734
Article 7 Mergers and Other Restructuring Transactions 29-751 – 29-754
Article 8 Dissolution 29-781 – 29-786
Article 9 Foreign Limited Liability Companies 29-801 – 29-812
Article 10 Derivative Actions 29-831 – 29-833
Article 11 Professional Limited Liability Companies 29-841 – 29-848
Article 12 Miscellaneous 29-851 – 29-858

Terms Used In Arizona Laws > Title 29 > Chapter 4

  • Abuse: means the infliction or allowing of physical injury, impairment of bodily function or disfigurement or the infliction of or allowing another person to cause serious emotional damage as evidenced by severe anxiety, depression, withdrawal or untoward aggressive behavior and which emotional damage is diagnosed by a medical doctor or psychologist and is caused by the acts or omissions of an individual who has the care, custody and control of a child. See Arizona Laws 8-201
  • Allegation: something that someone says happened.
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Articles of organization: means the initial articles of organization as amended or restated from time to time. See Arizona Laws 29-601
  • Assignee: means any person who acquires in any manner the ownership of an interest in a limited liability company and who has not been admitted as a member. See Arizona Laws 29-601
  • Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Board: means the officer, agency, court or other authority in this state empowered by law to license or otherwise authorize the rendition of a professional service. See Arizona Laws 29-841
  • Capital contribution: means cash, other property, the use of property, services rendered or any other valuable consideration transferred to a limited liability company as consideration for issuing an interest in a limited liability company. See Arizona Laws 29-601
  • Commission: means the corporation commission. See Arizona Laws 29-601
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Court: includes any court and judge with jurisdiction in the case. See Arizona Laws 29-601
  • Custodian: means a person, other than a parent or legal guardian, who stands in loco parentis to the child or a person to whom legal custody of the child has been given by order of the juvenile court. See Arizona Laws 8-201
  • Decedent: A deceased person.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Deliver: includes sending by mail, private courier, fax or electronic transmission. See Arizona Laws 29-601
  • Delivery: means actual receipt by the person to which directed and for electronic transmissions means receipt as described in section 44-7015, subsection B. See Arizona Laws 29-601
  • Department: means the department of child safety. See Arizona Laws 8-201
  • Dependent: A person dependent for support upon another.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Electronic transmission: means an electronic record as defined in section 44-7002 that is sent pursuant to section 44-7015, subsection A. See Arizona Laws 29-601
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Event of withdrawal: means an event that causes a person to cease to be a member as provided in section 29-733. See Arizona Laws 29-601
  • Executed: means executed by manual or facsimile signature on behalf of the limited liability company by a duly authorized member if management of the limited liability company is reserved to the members or manager if management of the limited liability company is vested in a manager, or if the limited liability company is in the hands of a receiver or trustee, by the receiver or trustee. See Arizona Laws 29-601
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Fiduciary: A trustee, executor, or administrator.
  • Filing: means the commission completing the following procedure with respect to any document delivered for that purpose:

    (a) Determining that the filing fee requirements of this chapter have been satisfied. See Arizona Laws 29-601

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Foreign limited liability company: means either:

    (a) An unincorporated entity or association that is owned by one or more persons that have limited liability for the debts of the business, other than a partnership or trust, and that is formed under the laws of a jurisdiction other than this state for any lawful purpose, including the rendering of professional services as defined in that jurisdiction. See Arizona Laws 29-601

  • Grantee: includes every person to whom an estate or interest in real property passes, in or by a deed. See Arizona Laws 1-215
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Hearsay: Statements by a witness who did not see or hear the incident in question but heard about it from someone else. Hearsay is usually not admissible as evidence in court.
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Initial articles of organization: means the articles of organization filed with the commission at the time a limited liability company is formed, including articles of organization that are corrected to conform to the filing provisions of this chapter pursuant to section 29-634, subsection C, paragraph 2. See Arizona Laws 29-601
  • interest in the limited liability company: means a member's share of the profits and losses of a limited liability company and the right to receive distributions of limited liability company assets. See Arizona Laws 29-601
  • Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
  • Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • juvenile: means an individual who is under the age of eighteen years. See Arizona Laws 8-201
  • Law enforcement officer: means a peace officer, sheriff, deputy sheriff, municipal police officer or constable. See Arizona Laws 8-201
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • License: means a license, a certificate of registration or any other evidence of the satisfaction of the requirements of a board for the practice of a professional service. See Arizona Laws 29-841
  • Licensed person: means an individual who is duly licensed by at least one board to provide at least one of the categories of professional service rendered by the professional limited liability company. See Arizona Laws 29-841
  • limited liability company: means a limited liability company organized and existing under this chapter. See Arizona Laws 29-601
  • Member: means a person who is admitted as a member in a limited liability company pursuant to this chapter until an event of withdrawal occurs with respect to the person and, if reference is made to members, that reference means a member in the case of a limited liability company that has a single member. See Arizona Laws 29-601
  • neglected: means :

    (a) The inability or unwillingness of a parent, guardian or custodian of a child to provide that child with supervision, food, clothing, shelter or medical care if that inability or unwillingness causes unreasonable risk of harm to the child's health or welfare, except if the inability of a parent, guardian or custodian to provide services to meet the needs of a child with a disability or chronic illness is solely the result of the unavailability of reasonable services. See Arizona Laws 8-201

  • Oath: includes an affirmation or declaration. See Arizona Laws 1-215
  • Operating agreement: means either:

    (a) Any written or oral agreements among all members concerning the affairs of a limited liability company or the conduct of its business. See Arizona Laws 29-601

  • Oversight: Committee review of the activities of a Federal agency or program.
  • Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
  • Person: includes any individual, general partnership, limited partnership, domestic or foreign limited liability company, corporation, trust, business trust, real estate investment trust, estate and other association. See Arizona Laws 29-601
  • Petition: means a written statement of the essential facts that allege delinquency, incorrigibility or dependency. See Arizona Laws 8-201
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Plan: means a plan of merger, interest exchange, conversion, domestication or division, as applicable. See Arizona Laws 29-751
  • Population: means the population according to the most recent United States decennial census. See Arizona Laws 1-215
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • Probable cause: A reasonable ground for belief that the offender violated a specific law.
  • Professional limited liability company: means a limited liability company organized under this chapter for purposes that include rendering one or more categories of professional services. See Arizona Laws 29-841
  • Quorum: The number of legislators that must be present to do business.
  • Real property: includes land, any interest, leasehold or estate in land and any improvements on it. See Arizona Laws 29-601
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Referral: means a report that is submitted to the juvenile court and that alleges that a child is dependent or incorrigible or that a juvenile has committed a delinquent or criminal act. See Arizona Laws 8-201
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
  • Serious physical injury: means an injury that is diagnosed by a medical doctor and that does any one or a combination of the following:

    (a) Creates a reasonable risk of death. See Arizona Laws 8-201

  • State: means a state, possession or territory of the United States, the District of Columbia or the Commonwealth of Puerto Rico. See Arizona Laws 29-601
  • Statute: A law passed by a legislature.
  • Tenancy in common: A type of property ownership in which two or more individuals have an undivided interest in property. At the death of one tenant in common, his (her) fractional percentage of ownership in the property passes to the decedent
  • Testify: includes every manner of oral statement under oath or affirmation. See Arizona Laws 1-215
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Transaction: means a merger, an interest exchange, a conversion, a domestication or a division, as applicable. See Arizona Laws 29-751
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • worker: means a person who has been selected by and trained under the requirements prescribed by the department and who assists in carrying out the provisions of this article. See Arizona Laws 8-801