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§ 29-801 Law governing foreign limited liability companies

AZ Rev Stat § 29-801 (2019) (N/A)
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29-801. Law governing foreign limited liability companies

(Rpld. 9/1/20)

A. Subject to the constitution of this state:

1. The laws of the state or another jurisdiction under which a foreign limited liability company is organized govern its organization and internal affairs and the liability of its members, except as provided in subsection B.

2. A foreign limited liability company shall not be denied registration by reason of any difference between the laws of another jurisdiction under which a foreign limited liability company is organized and the laws of this state.

B. A foreign limited liability company that has obtained a certificate of registration pursuant to this chapter and its members and managers have no greater rights and privileges than a domestic limited liability company and its members and managers with respect to transactions and relationships with persons who are not members. The certificate of registration does not authorize the foreign limited liability company to exercise any powers or engage in any business that a domestic limited liability company is forbidden to exercise or engage in by the laws of this state.

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