Alex Vakula

About Alex Vakula

Alex B. Vakula has practiced law throughout the State of Arizona for over 30 years. His practice emphasis is in the areas of real estate, financing, business, and investment matters.

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Education

• Law School: Arizona State

Common questions about Business Law in Arizona

Answered by Arizona Attorney Search Network

How do I form an LLC in Arizona?

File Articles of Organization with the Arizona Corporation Commission under ARS § 29-3201, designate a statutory agent (ARS § 29-3115), and adopt an operating agreement. Arizona does not require LLCs to publish notice of formation in most counties as of 2017, though Maricopa and Pima exemptions remain. Filing fees are modest, and Arizona does not require an annual report or fee for LLCs.

What is a buy-sell agreement?

A buy-sell agreement is a contract among co-owners of a business specifying what happens to an owner's interest upon death, disability, divorce, retirement, or voluntary sale. Common structures include cross-purchase (other owners buy the departing owner's share), entity redemption (the company buys it), or hybrid. Buy-sell agreements typically address valuation methodology, funding (often via life insurance), and triggering events.

What is an operating agreement?

An operating agreement is the LLC's internal governance document, addressing membership interests, capital contributions, profit/loss allocation, voting rights, manager authority, and exit terms. Arizona law (ARS § 29-3105) recognizes operating agreements as the primary source of LLC governance, with ARS Title 29 supplying default rules where the agreement is silent. Single-member LLCs benefit from operating agreements too, especially for clarifying corporate veil.

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