MC Law Blog

General partner was not automatically removed from limited partnership

Posted May 24, 2016 MC Attorneys

General partner was not automatically removed from limited partnership In the case of TP Racing, L.L.L.P. v. Simms, the Arizona Court of Appeals, Division One, ruled that the removal of a general partner from a limited partnership was not automatically required under Arizona’s Limited Partnership Act. That statute provides that a general partner must be… Read more

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Fiduciary duties owed between members of a limited liability company

Posted April 24, 2016 MC Attorneys

Fiduciary duties owed between members of a limited liability company Arizona law governing partnerships imposes fiduciary obligations between the partners, and similar provisions exist under corporate law regarding fiduciary duties imposed upon directors of closely held corporations in their dealing with shareholders. In the case of TM2008 Investments, Inc. v. Procon Capital Corp., the Arizona… Read more

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Choice of business entity: foster growth of your new Arizona business

Posted March 24, 2016 MC Attorneys

Choice of business entity: foster growth of your new Arizona business On behalf of Richard Murphy at Murphy Cordier PLC Arizona law allows for the choice of several different business entities, including the corporation, limited liability company, partnership, sole proprietorship and more. Not since before the recession has Arizona’s unemployment rate been almost as healthy… Read more

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Being in a business partnership with a spouse can present challenges

Posted February 24, 2016 MC Attorneys

Being in a business partnership with a spouse can present challenges On behalf of Richard Murphy at Murphy Cordier PLC Many Arizonans who start a business decide to form a partnership to conduct the business. Inc. magazine observes that finding a second person to help build your business is not an easy task. It is… Read more

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