BY RICHARD LIEBERMAN
New Changes to Arizona
Corporate Law
Articles, Bylaws, More
Must Be Updated
The Arizona Legislature recently adopted changes to the laws governing Arizona business en-
tities, in a number of important respects, to help Arizona
laws conform to modern practices. To benefit from some
of those changes, though, Arizona corporations will need
to amend their articles of incorporation (“articles”) or
bylaws to adopt appropriate amendments. They also may
wish to change shareholder agreements to benefit from
these changes. Other changes apply to all Arizona corpo-
rations regardless of whether they amend their articles or
bylaws; however, it is recommended that those documents
be reviewed to assure that they do not otherwise impose
outdated or unwanted provisions.
RICHARD LIEBERMAN is Chairman of Jennings,
Strouss & Salmon’s Corporate, Securities and
Finance Department. He has extensive experience
in a broad range of business law issues, including
mergers and acquisitions, securities, corporate
governance, finance and banking, employment,
executive compensation, bankruptcy and corporate
restructuring, litigation and legislation.
Lieberman has served as in-house General
Counsel and outside counsel to a variety of companies, ranging in size from start-ups to Fortune
500 companies. He has counseled boards and
senior management on issues pertinent to growing
companies as well as those experiencing a wide
variety of crisis situations.
