{"id":9985,"date":"2018-05-08T10:27:53","date_gmt":"2018-05-08T17:27:53","guid":{"rendered":"https:\/\/www.keytlaw.com\/azllclaw\/?page_id=9985"},"modified":"2018-05-23T12:39:01","modified_gmt":"2018-05-23T19:39:01","slug":"ars-section-29-3403","status":"publish","type":"page","link":"https:\/\/www.keytlaw.com\/azllclaw\/ars-section-29-3403\/","title":{"rendered":"ARS Section 29-3403 Liability for Contributions"},"content":{"rendered":"

A. A person’s obligation to make a contribution to a limited liability company is not enforceable unless the obligation is set forth in a record signed by the person or as otherwise provided in Section 29-3502<\/a>.H. A person’s obligation to make a contribution to the company is not excused by the person’s death, disability, termination or other inability to perform personally.<\/p>\n

B. If a person does not fulfill an obligation to make a contribution other than money, the person is obligated at the option of the limited liability company to contribute monies equal to the value of the part of the contribution that has not been made.<\/p>\n

C. The obligation of a person to make a contribution may be compromised only by the affirmative vote or consent of all the members.\u00a0 If a creditor of a limited liability company extends credit or otherwise acts in reliance on an obligation described in subsection A of this Section without knowledge or notice of a compromise under this subsection, the creditor may enforce the obligation.<\/p>\n

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 Title 29, Chapter 7<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

A. A person’s obligation to make a contribution to a limited liability company is not enforceable unless the obligation is set forth in a record signed by the person or as otherwise provided in Section 29-3502.H. A person’s obligation to make a contribution to the company is not excused by the person’s death, disability, termination or other inability to perform personally. B. If a person does not fulfill an obligation to make a contribution other than money, the person is obligated at the option of the limited liability company to contribute monies equal to the value of the part of the contribution that has not been made. C. The obligation of a person to make a contribution may be compromised only by the affirmative vote or consent of all the members.\u00a0 If a creditor of a limited liability company extends credit or otherwise acts in reliance on an obligation described in subsection A of this Section without knowledge or notice of a compromise under this subsection, the creditor may enforce the obligation.<\/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-9985","page","type-page","status-publish","hentry"],"yoast_head":"\nARS Section 29-3403 Liability for Contributions - Arizona LLC Law<\/title>\n<meta name=\"description\" content=\"The complete text of Arizona Revised Statutes Section 29-3403 of Arizona'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-29-3403\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ARS Section 29-3403 Liability for Contributions\" \/>\n<meta property=\"og:description\" content=\"The complete text of Arizona Revised Statutes Section 29-3403 of Arizona's new LLC law that is effective September 1, 2019.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.keytlaw.com\/azllclaw\/ars-section-29-3403\/\" \/>\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=\"2018-05-23T19:39:01+00:00\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\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-29-3403\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/ars-section-29-3403\\\/\"},\"author\":{\"name\":\"Katie Keyt\",\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/#\\\/schema\\\/person\\\/745ac248a7f18e1ef5455f0dcee1f591\"},\"headline\":\"ARS Section 29-3403 Liability for Contributions\",\"datePublished\":\"2018-05-08T17:27:53+00:00\",\"dateModified\":\"2018-05-23T19:39:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/ars-section-29-3403\\\/\"},\"wordCount\":186,\"publisher\":{\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/#organization\"},\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/ars-section-29-3403\\\/\",\"url\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/ars-section-29-3403\\\/\",\"name\":\"ARS Section 29-3403 Liability for Contributions - 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