Recent Developments – Fall, 2018 See Recently Closed Deals Below GET YOUR ACT TOGETHER! LOOKING AHEAD TO 2019: Arizona’s New LLC Act Later next year, the newly enacted Arizona Limited Liability Company Act (the “Act”) will go into effect. The Arizona State Legislature passed a new set of laws regarding the operation of Arizona limited liability companies … More GET YOUR ACT TOGETHER!LOOKING AHEAD TO 2019:Arizona’s New LLC Act
Up, Up, and….AWAY! A common component in virtually all commercial real estate loan documents is the provision addressing late fees that kick in upon a borrowers’ failure to make timely payments. Recent Arizona case law has changed the enforceability of certain provisions regarding particular late fees. In 2017, the Arizona Supreme Court issued an opinion … More Up, Up, and… AWAY!
Bad Boys and Bad Acts As part of our Commercial Real Estate Finance and Option Practice we see a wide variety of loan documents. In the past, we have written about various ways in which non-recourse loans (i.e., loans for which the borrower does not have personal liability) quickly slip into full recourse loans (i.e., … More Bad Boys and Bad Acts
Yes, But There’s a Cure: A Legislative Update At the end of April, Arizona Governor Doug Ducey signed into law a bill (Senate Bill 1406) passed by the Arizona State Legislature that will now give businesses an opportunity to correct any alleged violations of the Arizonans with Disabilities Act, which is the state’s version … More Yes, But There’s a Cure: A Legislative Update
Arizona Legal Opinions Winter, 2017 http://www.arizonalegalopinions.com Assuming You Sign Here When we give our legal opinion letters in connection with the enforceability of commercial real estate loans, we would like to assume that “all signatures are genuine” and focus on the actual language of the various loan documents. However, lenders will occasionally request that … More Assuming You Sign Here
Know Your Role or Roll the Dice Whether as part of a joint venture, or setting up a new limited liability company or partnership, it is vital to know your rights, roles and responsibilities and those of your new partners. Arizona, like many states, differentiates limited liability companies into two big buckets: “member-managed” and “manager-managed”. … More Know Your Role or Roll the Dice
Beat the Heat The Arizona summer is upon us and people everywhere are looking to cool down. It’s no secret that issues with commercial real estate leases can naturally arise as tenants justifiably crank up HVAC units to keep their employees and customers cool and comfortable while some landlords fret the increased demand on … More Beat the Heat