Our Four Types of Operating Agreements for Arizona LLCs

Our Four Types of Operating Agreements for Arizona LLCs2018-10-09T07:31:21+00:00

by Richard Keyt, Arizona LLC & business law attorney and Richard C. Keyt, California and Arizona LLC & business law attorney

I have a masters degree in federal income tax law from New York University School of Law.  I formed my first Arizona LLC the day Arizona’s LLC law became effective in October of 1992. My son and I have prepared 6,200+ LLC Operating Agreements.

An Operating Agreement is a must have agreement that all multi-member Arizona LLCs need, especially in light of the fact Arizona adopted a new LLC act that entirely replaces existing Arizona law on September 1, 2019.  My Operating Agreements are drafted to  comply with current and future Arizona LLC law so you won’t have to amend your Operating Agreement when the new law becomes effective.

My clients have a choice of four different Operating Agreements unlike almost all other Operating Agreement preparers who offer a one size fits all Operating Agreement. My four types of Operating Agreements are drafted for:

  • Fee: $247.  One member LLCs or LLCs owned solely by a married couple.
  • Fee: $497.  Multi-member LLCs when I represent only the company.  The provisions in this agreement are neutral, i.e., they do not favor any member or group of members.  All members must agree before the company can take any major action, a term that is defined in the Operating Agreement.
  • Fee: $797.  Multi-member LLCs when I represent only one member who owns a majority of the company.  The provisions in this agreement favor the majority member who will have control over all major decisions.  This agreement eliminates most of the liability creating provisions in Arizona’s new LLC law effective September 1, 2019.  Note:  Some of the liability creating provisions in the new law cannot be eliminated.  If you are or will be a majority member of an Arizona LLC you need this custom drafted Operating Agreement that gives you control and reduces the grounds on which the other members can sue you.
  • Fee: $797.  Multi-member LLCs when I represent only one minority member.  The provisions in this agreement favor the minority member who will have the power to veto any proposed major action.  The agreement also includes the provisions in Arizona’s new LLC law that impose duties and liabilities on the managers of the LLC unless the minority member is a manager.

How to Purchase an Operating Agreement for an Arizona LLC

Go to Buy an Operating Agreement to hire me to prepare one or our four types of Operating Agreements.  You may also call me, LLC attorney Richard Keyt (480-664-7478) or my son LLC attorney and former CPA Richard C. Keyt (480-664-7472) and give us your LLC information over the phone.