Category Archives: Case Note

Arizona’s Limited Liability Company Act does not subject members of Arizona LLCs to any fiduciary duties, but members of an LLC can elect to institute such duties in the LLC’s operating agreement

TM2008 Investments, Inc., et al., v. ProCon Capital Corp., 234 Ariz. 421 (App. 2014). HELD: The Operating Agreement of a Limited Liability Company Determines Which Duties the Members of that Limited Liability Company Owe Each Other             This case is important because it sets forth the standard for fiduciary duties of members of an LLC…. Read More »