AZ HB2505

Amends Arizona Revised Statutes Section 29-2406 to restrict who can bring claims for dissolution or receivership against a converted entity.

Only governors or interest holders of the converted entity may bring or maintain dissolution or receivership claims under specified statutes (sections 10-1430, 10-1815, 10-11430, 10-11431, 12-1241, 29-345, and 29-785).

Applies the same restriction to pending actions or proceedings where the converted entity's name is substituted for the converting entity's name.

Preserves all other effects of entity conversion including vesting of property, continuation of obligations, and conversion of interests without requiring dissolution or winding up of affairs.

Effective March 29, 2018 upon governor approval and filing with the Secretary of State.