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Number of days for ACC to review Articles filed on an expedited basis:
8
ACC is now reviewing documents filed on 11/12/08.
We are attorneys, not uninsured or unlicensed document preparers.
Arizona
Law
Arizona
LLC Library
Arizona
LLC Operations Compliance Alert SystemArizona LLC Operations Compliance Alert Systemtm
Free for KEYTLaw Formed LLCs - $97 for Other AZ LLCs
by Arizona LLC attorney Richard Keyt, who has formed over 1,700+ AZ LLCs
There is a lot to know about operating an Arizona LLC. Filing the Articles of Organization with the Arizona Corporation Commission and forming the company is just the beginning. See "Understanding the Two Phases in the Life of an Arizona LLC." The LLC cannot run itself. The members and managers of an LLC must be aware of and confront many operational issues, some of which occur only during the start up period and many of which recur year after year as long as the LLC exists.
Wouldn't it be nice if members and managers who aren't experts at operating an Arizona LLC had the equivalent of an "LLC fairy godmother" looking over their shoulders to remind them of important operational issues? Wouldn't LLC life be easier for members and managers if the LLC fairy godmother could remind them of important LLC operational issues during the year?
There is an LLC fairy godmother for Arizona LLCs. I created it and it is called the Arizona LLC Operations Compliance Alert Systemtm ("OCAS"). The OCAS is an automated email system that sends periodic alerts to the members and managers of the LLC concerning important LLC operational issues. It's an automatic tickler / reminder system for Arizona LLCs.
How the OCAS Works
Arizona law requires that the LLC keep its ACC information current, but most people never think to check to see if it is out of date. The OCAS sends reminder email alerts to members and managers twice a year to check the LLC's information on file with the Arizona Corporation Commission to confirm that all information is correct.
But the OCAS is more than just a reminder system. It can also help you complete LLC operational tasks. To check the ACC information for your LLC, you simply click on the link in the OCAS reminder email alert and you are taken to the ACC's website where you can enter the name of your LLC and review the information about your LLC on file with the ACC.
Note: Arizona Revised Statutes Section 29-633.B states:
A limited liability company shall amend its articles of organization if there is a statement in the articles of organization that was false or erroneous when it was made or within thirty days after the occurrence of any of the following events:
1. Any arrangements or facts have changed making the articles of organization inaccurate in any respect . . . .
2. Management of the [LLC] is reserved to the members and there is a change in the persons who are members.
3. Management of the [LLC} is vested in a manager or managers and there is a change in the persons who are managers or in the members who own a twenty per cent or greater interest in the capital or profits interest of the limited liability company.
Arizona Revised Statutes Section 29-633.E states, "No person has any liability because an amendment to articles of organization has not been filed to reflect the occurrence of any event prescribed by subsection B of this section if the amendment is filed within the thirty-day period specified in subsection B of this section.
If you need to update an address or appoint a new statutory agent, click on the link in the OCAS reminder email alert to access the ACC's change of address form. This online fill-in-the-blanks change of address form is on my website. To change an out of date address, you simply fill out the form online, print and sign it then mail the form to the ACC with a check for $5.
The OCAS is intended to make complying with Arizona LLC law easier. As an OCAS subscriber, you won't have to: (1) trust your memory to check your LLC's address, (2) waste time trying to find the change of address form on the ACC's website, or (3) use the ACC's non-fill-in-the-blanks change of address form. The OCAS simplifies the entire data checking and updating process for you.
Sample OCAS Reminder Email Alerts
Here is a partial list of some of the reminder email alerts our OCAS sends to members and managers of Arizona LLCs who subscribe to the OCAS:
| Email Alert |
Alert Frequency |
|
| 1. | Reminder to get a federal employer ID number for the LLC | 2 times after formation |
| 2. | Reminder to open a bank account in the name of the LLC | 2 times after formation |
| 3. | Reminder of the deadline for the LLC to elect to be taxed as an S corporation | 4 times after formation and 1 time again at the beginning of each year |
| 4. | Reminder of the deadline for the LLC to elect to be taxed as a C corporation | 4 times after formation and 1 time again at the beginning of each year |
| 5. | Reminder to hire an accountant and set up a good bookkeeping system | 2 times after formation |
| 6. | Reminder to review the LLC's insurance coverage and the need to maintain adequate insurance | 2 times after formation and again at the end of each calendar year |
| 7. | Reminder for real estate LLCs to transfer property to the LLC by deed and name the LLC as an insured on the property insurance policy | 2 times after formation and again at the end of each calendar year |
| 8. | Reminder to document transactions between the LLC and others (especially related parties) such as loans, property and equipment leases, and employment contracts | 2 times after formation and again at the end of each calendar year |
| 9. | Reminder to document a change of members (including percentage ownership) or managers | 1 time at the end of each calendar year |
| 10. | Reminder to check the ACC's website to determine LLC is in good standing and that all of the LLC information is correct | 2 times after formation and every six months thereafter |
| 11. | Reminder to check the Arizona Corporation Commission website to determine that the LLC's statutory agent information is correct | 1 time every six months |
| 12. | Reminder to hold annual meetings of the members and managers and documenting the meetings with minutes or adopting an Action by Unanimous Consent to adopt resolutions in lieu of holding an actual meeting | 1 time after formation and again at the end of each calendar year |
OCAS is Available Only from Richard Keyt, Arizona LLC Attorney
I am not aware of any other person or firm (attorney or document preparer) that offers a similar LLC alert service. The OCAS is another reason why I have formed 1,700+ Arizona LLCs in the last few years. For a list of the many other reasons people hire me to form their Arizona LLC, see the Contents of Richard Keyt's $599 Complete LLC Package.
How You Can Purchase a Subscription to the OCAS
Anybody can purchase a one year subscription to the OCAS for $97. You do not have to be a client of Richard Keyt or KEYTLaw, LLC, to purchase a subscription.
Frequently Asked Questions About Subscribing to the OCAS
Question: Can I purchase a subscription to the OCAS if Richard Keyt did not form my Arizona LLC?
Answer: Yes. Anybody who pays the subscription price of $97 can subscribe to the OCAS for one year.
Question: Can the OCAS be used for LLCs other than Arizona LLCs?
Answer: No. Currently the OCAS is only for LLCs formed in Arizona. We may add other states in the future so check back from time to time.
Question: Can more than one member or manager of an LLC receive alerts if the LLC purchases a single subscription?
Answer: Yes. Any OCAS subscriber can send an email message to us at ocasinfo@keytlaw.com and request to add one or more additional members or managers of the LLC as additional subscribers. Each proposed additional subscriber must be listed on the records of the Arizona Corporation Commission as being a member or manager of the LLC for which the person making the request subscribed to the OCAS. Example: If Joe Smith pays for a subscription to the OCAS for XYZ 999, LLC, only the members and managers of that LLC listed on the records of the ACC are eligible for free subscriptions to the OCAS.
Question: Is there a limit on the number of subscribers for one LLC?
Answer: Yes. Each LLC for which a subscription is purchased can have no more than four subscribers per $97
Question: If I subscribe to the OCAS, will I become a client of Richard Keyt or KEYTLaw, LLC?
Answer: No. Neither you, your LLC or any other member or manager of your LLC will become a client of Richard Keyt or KEYTLaw, LLC, by virtue of subscribing to the OCAS. Subscribers to the OCAS are not hiring Richard Keyt or KEYTLaw, LLC, to provide legal services. The OCAS is an automated tickler / reminder service and nothing more. A person or entity may become a client of Richard Keyt or KEYTLaw, LLC, only by entering into a written agreement for specific legal services.
Question: If I subscribe to the OCAS, is Richard Keyt or KEYTLaw, LLC, responsible for satisfying or providing any legal services related to or arising out of the substantive content of an OCAS email alert?
Answer: No. A subscriber to the OCAS is not hiring Richard Keyt or KEYTLaw, LLC, to perform any services related to any issue discussed in an email alert unless the subscriber and Richard Keyt or KEYTLaw, LLC, enter into a written agreement for the services.
Question: Can I cancel my subscription to the OCAS?
Answer: Yes. A subscriber may cancel his or her subscription to the OCAS at any time by clicking on the opt-out link at the end of every email alert.
Question: If I subscribe to the OCAS and cancel my subscription, can I get a refund?
Answer: Yes, but only if you cancel in the first 30 days after subscribing and you request a refund by sending a request for a refund in an email message to ocasinfo@keytlaw.com.
Free OCAS Subscriptions for AZ LLCs Formed by Richard Keyt
New LLCs that I form after August 17, 2008 will be automatically added to the OCAS and receive a paid for one year subscription. LLCs that I formed before that date will be added to the OCAS over time and given a free one year subscription. After the free one year subscription expires, LLCs that are subscribers to our LLC Annual Maintenance Plan will be enrolled in the OCAS at no extra cost, but LLCs not enrolled in the maintenance plan must purchase an additional one year subscription for $97 to continue the service.
About the Author
Richard Keyt, J.D., LL.M. (income taxation New York University Law School) is a business, real estate, transactions, contracts and estate planning attorney licensed to practice law in Arizona. He has formed over 1,700+ Arizona limited liability companies in the last few years because his low cost high quality LLC package is second to none and it only costs $599 for everything. Rick has practiced law in Arizona since 1980. Rick can be reached by telephone at 602-906-4953, ext. 101. Email at rickkeyt@keytlaw.com and fax at 602-297-6890. Rick's web site located at www.keytlaw.com had over 1,000,000 visitors in 2006 and 2007. Rick does not accept matters involving landlord / tenant disputes or litigation of any kind (other than tax lien foreclosures). Communicating with Richard Keyt via email or otherwise does not cause you to become a client or cause your communications to be confidential or subject to the attorney client privilege.
KEYTLaw LLC Formation Records: day: 17 (6/4/08); week: 27 (week ending 6/7/08); month: 64 (6/08); year: 425 (2007)
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This page was last modified on October 06, 2008.
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