Paul Newman
Commissioner
Gary Pierce
Commissioner
Kristin K. Mayes
Chairman
Sandra D. Kennedy
Commissioner
Bob Stump
Commissioner

Arizona Corporation Commission

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Corporations Division
Jeff Grant - Director

1300 W. Washington St. 1st Floor
Phoenix, AZ 85007-2929
(602) 542-3026

Summary of changes in Corporations and LLC statutes made by S.B. 1410
 Effective Date of the bill:      September 26, 2008
 
PLEASE NOTE that this is a summary only, and does not detail each and every change made by the bill. 
 
All changes will go into effect as of September 26, 2008. The Arizona Corporation Commission website and pertinent forms are being modified to put the changes into effect as of that date. 
 
  • Affidavit of publication.

Affects multiple statutes.

Filing an affidavit of publication is now optional, not mandatory, in most situations. Please review the statute that pertains to your filing or the instruction page that accompanies our forms or review the actual bill, SB1410, to determine whether you need to file the Affidavit of Publication with the Commission. In situations where filing the affidavit of publication is now optional, the business must still publish, but it simply does not have to file the Affidavit of Publication with our office. 

  •  CERTIFICATES OF DISCLOSURE.
A.R.S. §§ 10-202(D) and 10-3202(D). 
 
You will no longer have to provide a social security number when you provide information about those persons convicted of felonies or who are subject to judicial action. Also, the words “charter revocation” have been removed from the question asking about bankruptcy information. 
  •  Annual Report - NONPROFITS.
 A.R.S. § 10-11622(A).
 
Nonprofit corporations whose Annual Reports are due on or after September 26, 2008 do not have to provide a statement of financial condition. Nonprofits whose Annual Reports are due on or before September 25, 2008 will still need to provide a statement of financial condition. 
  •   LLC members.
A.R.S. § 29-601(12).
 
The definition of member has been changed to include "noneconomic members."  Noneconomic members will be listed simply as “members” in Arizona Corporation Commission records.
  •  LLC Articles of Termination.
 A.R.S. § 29-783.
 
It is no longer necessary to include a statement that all debts are being paid or information about pending lawsuits. The Arizona Corporation Commission form is being revised to delete those questions, but the old form is acceptable.
 
  • LLC reinstatement.
 A.R.S. § 29-786(D) and (G).
 
If an LLC is administratively dissolved, its name will be reserved for a period of 6 months. If the LLC has not applied for reinstatement within 6 months after dissolution, its name will be released. If another company or person has taken the name of the LLC when the LLC applies for reinstatement, the LLC must amend its articles and adopt a new name.
 

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