SB 1230 Summary

• Amends Arizona statutes to clarify references to limited liability companies throughout Title 29, Chapter 7 (replacing outdated references to "Chapter 4").

• Modifies the public access fund statute to include limited liability company filings and establishes a money-on-deposit account for advanced fees related to LLC documents.

• Updates corporate name requirements to prohibit corporations from using "limited liability company," "limited company," or LLC abbreviations in their names.

• Adds new dissociation event for LLC members when a member's entire transferable interest is transferred and at least one transferee becomes a member.

• Updates professional licensing statutes (accounting, dentistry, real estate) to reflect the current title and chapter designation for professional limited liability companies.