{"id":9991,"date":"2018-05-08T10:58:02","date_gmt":"2018-05-08T17:58:02","guid":{"rendered":"https:\/\/www.keytlaw.com\/azllclaw\/?page_id=9991"},"modified":"2018-05-23T12:49:52","modified_gmt":"2018-05-23T19:49:52","slug":"ars-section-29-3406","status":"publish","type":"page","link":"https:\/\/www.keytlaw.com\/azllclaw\/ars-section-29-3406\/","title":{"rendered":"ARS Section 29-3406 Liability for Improper Distributions"},"content":{"rendered":"

A. A person that receives a distribution that violates Section 29-3405<\/a> is personally liable to the limited liability company but only to the extent that the distribution received by the person exceeded the amount that could have been properly paid to that person under Section 29-3405<\/a>.<\/p>\n

B. An action under this Section is barred unless commenced not later than three years after the distribution.<\/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><\/p>\n","protected":false},"excerpt":{"rendered":"

A. A person that receives a distribution that violates Section 29-3405 is personally liable to the limited liability company but only to the extent that the distribution received by the person exceeded the amount that could have been properly paid to that person under Section 29-3405. B. An action under this Section is barred unless commenced not later than three years after the distribution.<\/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-9991","page","type-page","status-publish","hentry"],"yoast_head":"\nARS Section 29-3406 Liability for Improper Distributions - Arizona LLC Law<\/title>\n<meta name=\"description\" content=\"The complete text of Arizona Revised Statutes Section 29-3406 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-29-3406\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ARS Section 29-3406 Liability for Improper Distributions\" \/>\n<meta property=\"og:description\" content=\"The complete text of Arizona Revised Statutes Section 29-3406 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-29-3406\/\" \/>\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=\"2018-05-23T19:49:52+00:00\" \/>\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-29-3406\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/ars-section-29-3406\\\/\"},\"author\":{\"name\":\"Katie Keyt\",\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/#\\\/schema\\\/person\\\/745ac248a7f18e1ef5455f0dcee1f591\"},\"headline\":\"ARS Section 29-3406 Liability for Improper Distributions\",\"datePublished\":\"2018-05-08T17:58:02+00:00\",\"dateModified\":\"2018-05-23T19:49:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/ars-section-29-3406\\\/\"},\"wordCount\":75,\"publisher\":{\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/#organization\"},\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/ars-section-29-3406\\\/\",\"url\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/ars-section-29-3406\\\/\",\"name\":\"ARS Section 29-3406 Liability for Improper Distributions - 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