{"id":10056,"date":"2018-05-09T10:52:53","date_gmt":"2018-05-09T17:52:53","guid":{"rendered":"https:\/\/www.keytlaw.com\/azllclaw\/?page_id=10056"},"modified":"2018-05-24T10:04:52","modified_gmt":"2018-05-24T17:04:52","slug":"ars-section-29-3706","status":"publish","type":"page","link":"https:\/\/www.keytlaw.com\/azllclaw\/ars-section-29-3706\/","title":{"rendered":"ARS Section 29-3706 Court Proceedings"},"content":{"rendered":"<p style=\"text-align: justify;\">A. A dissolved limited liability company that has filed and published a notice under <a href=\"https:\/\/www.keytlaw.com\/azllclaw\/ars-section-29-3705\/\" target=\"_blank\" rel=\"noopener\">Section 29-3705<\/a> may file an application with the superior court in the county where the company&#8217;s principal address is located or, if the principal address is not located in this state, in the county where the office of its statutory agent is or was last located for a determination of the amount and form of security to be provided for the payment of claims that are reasonably expected to arise after the date of dissolution based on facts known to the company and that either:<\/p>\n<p style=\"text-align: justify; padding-left: 30px;\">1. at the time of application either:<\/p>\n<p style=\"text-align: justify; padding-left: 60px;\">(a) are contingent.<\/p>\n<p style=\"text-align: justify; padding-left: 60px;\">(b) have not been made known to the company.<\/p>\n<p style=\"text-align: justify; padding-left: 30px;\">2. are based on an event occurring after the date of dissolution.<\/p>\n<p style=\"text-align: justify;\">B. Security is not required for any claim that is or is reasonably anticipated to be barred under <a href=\"https:\/\/www.keytlaw.com\/azllclaw\/ars-section-29-3705\/\" target=\"_blank\" rel=\"noopener\">Section 29-3705<\/a>.<\/p>\n<p style=\"text-align: justify;\">C. Not later than ten days after the filing of an application under subsection A of this Section, the dissolved limited liability company shall give notice of the proceeding to each claimant holding a contingent claim known to the company.<\/p>\n<p style=\"text-align: justify;\">D. In a proceeding under this Section, the court may appoint a person to represent all claimants whose identities are unknown.\u00a0 The reasonable fees and expenses of the person, including all reasonable expert witness fees, must be paid by the dissolved limited liability company.<\/p>\n<p style=\"text-align: justify;\">E. A dissolved limited liability company that provides security in the amount and form ordered by the court under subsection A of this Section satisfies the company&#8217;s obligations with respect to claims that are contingent, have not been made known to the company or are based on an event occurring after the date of dissolution and such claims may not be enforced against a member or transferee on account of assets received in liquidation.<\/p>\n<p style=\"text-align: justify;\"><strong>Note<\/strong>:\u00a0 As of September 1, 2020, this statute applies to all Arizona LLCs .\u00a0 The text above shows the statute as of January 1, 2025.\u00a0 To see if the Arizona legislature modified this statute after January 1, 2025, go the the Arizona legislature's website for <a href=\"https:\/\/www.azleg.gov\/arsDetail\/?title=29\" target=\"_blank\" rel=\"noopener noreferrer\">Title 29, Chapter 7<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A. A dissolved limited liability company that has filed and published a notice under Section 29-3705 may file an application with the superior court in the county where the company&#8217;s principal address is located or, if the principal address is not located in this state, in the county where the office of its statutory agent is or was last located for a determination of the amount and form of security to be provided for the payment of claims that are reasonably expected to arise after the date of dissolution based on facts known to the company and that either: 1. at the time of application either: (a) are contingent. (b) have not been made known to the company. 2. are based on an event occurring after the date of dissolution. B. Security is not required for any claim that is or is reasonably anticipated to be barred under Section 29-3705. C. Not later than ten days after the filing of an application under subsection A of this Section, the dissolved limited liability company shall give notice of the proceeding to each claimant holding a contingent claim known to the company. D. In a proceeding under this Section, the court may appoint a person to represent all claimants whose identities are unknown.\u00a0 The reasonable fees and expenses of the person, including all reasonable expert witness fees, must be paid by the dissolved limited liability company. E. A dissolved limited liability company that provides security in the amount and form ordered by the court under subsection A of this Section satisfies the company&#8217;s obligations with respect to claims that are contingent, have not been made known to the company or are based on an event occurring after <a href=\"https:\/\/www.keytlaw.com\/azllclaw\/ars-section-29-3706\/\"> [&#8230;]<\/a><\/p>\n","protected":false},"author":158,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"om_disable_all_campaigns":false,"footnotes":""},"class_list":["post-10056","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v27.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>ARS Section 29-3706 Court Proceedings - Arizona LLC Law<\/title>\n<meta name=\"description\" content=\"The complete text of Arizona Revised Statutes Section 29-3706 of Arizona&#039;s new LLC law that is effective September 1, 2019.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.keytlaw.com\/azllclaw\/ars-section-29-3706\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ARS Section 29-3706 Court Proceedings\" \/>\n<meta property=\"og:description\" content=\"The complete text of Arizona Revised Statutes Section 29-3706 of Arizona&#039;s new LLC law that is effective September 1, 2019.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.keytlaw.com\/azllclaw\/ars-section-29-3706\/\" \/>\n<meta property=\"og:site_name\" content=\"Arizona LLC Law\" \/>\n<meta property=\"article:publisher\" content=\"http:\/\/www.facebook.com\/keytlaw\" \/>\n<meta property=\"article:modified_time\" content=\"2018-05-24T17:04:52+00:00\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/ars-section-29-3706\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/ars-section-29-3706\\\/\"},\"author\":{\"name\":\"Katie Keyt\",\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/#\\\/schema\\\/person\\\/745ac248a7f18e1ef5455f0dcee1f591\"},\"headline\":\"ARS Section 29-3706 Court Proceedings\",\"datePublished\":\"2018-05-09T17:52:53+00:00\",\"dateModified\":\"2018-05-24T17:04:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/ars-section-29-3706\\\/\"},\"wordCount\":317,\"publisher\":{\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/#organization\"},\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/ars-section-29-3706\\\/\",\"url\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/ars-section-29-3706\\\/\",\"name\":\"ARS Section 29-3706 Court Proceedings - Arizona LLC Law\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/#website\"},\"datePublished\":\"2018-05-09T17:52:53+00:00\",\"dateModified\":\"2018-05-24T17:04:52+00:00\",\"description\":\"The complete text of Arizona Revised Statutes Section 29-3706 of Arizona's new LLC law that is effective September 1, 2019.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/ars-section-29-3706\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/ars-section-29-3706\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/ars-section-29-3706\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"ARS Section 29-3706 Court Proceedings\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/#website\",\"url\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/\",\"name\":\"Arizona LLC Law\",\"description\":\"Information about Forming &amp; 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