Arizona § 29-3707 Disposition of assets in winding up

Arizona Statutes

§ 29-3707 — Disposition of assets in winding up

Arizona § 29-3707

Title 29Arizona Revised Statutes

Ch. 7ARIZONA LIMITED LIABILITY COMPANY ACT

Art. 7Dissolution and Winding Up

This text of Arizona § 29-3707 (Disposition of assets in winding up) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 29-3707 (2026).

Text

A.In winding up its activities and affairs, a limited liability company shall apply its assets to discharge the company's obligations to creditors, including members that are creditors.

B.After a limited liability company complies with subsection A of this section, any surplus assets must be distributed in the following order, subject to any charging order in effect under section 29-3503:

1.To each person owning a transferable interest that reflects contributions made and not previously returned, an amount equal to the value of the unreturned contributions.

2.Among persons owning transferable interests in proportion to their respective rights to share in distributions immediately before the dissolution of the company.

C.If a limited liability company does not have sufficient surpl

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A. In winding up its activities and affairs, a limited liability company shall apply its assets to discharge the company's obligations to creditors, including members that are creditors.

B. After a limited liability company complies with subsection A of this section, any surplus assets must be distributed in the following order, subject to any charging order in effect under section 29-3503:

1. To each person owning a transferable interest that reflects contributions made and not previously returned, an amount equal to the value of the unreturned contributions.

2. Among persons owning transferable interests in proportion to their respective rights to share in distributions immediately before the dissolution of the company.

C. If a limited liability company does not have sufficient surplus assets to comply with subsection B, paragraph 1 of this section, any surplus must be distributed among the owners of transferable interests in proportion to the value of the respective unreturned contributions.

D. All distributions made under subsections B and C of this section must be paid in money.