Senate Bill 1114 Summary

• Amends Arizona Revised Statutes sections related to limited liability companies, including provisions in titles 10, 20, 29, and 32 regarding corporate naming requirements, public access fund administration, and professional entity regulations.

• Clarifies references to limited liability company statutes by specifying "title 29, chapter 7" instead of "chapter 4" in multiple sections governing professional corporations, professional limited liability companies, and related business entities.

• Updates administrative procedures for limited liability companies regarding filing requirements, conversions, member dissociation, and administrative dissolution consistent with Arizona's LLC governing statute.

• Modifies public access fund provisions to include limited liability company filings alongside corporate and partnership filings for data processing system maintenance.

• Effective date of August 31, 2020.