Corporate and Business
Blog
Securities and Exchange Commission Expands the Definition of “Accredited Investor”
October 12, 2020
The United States Securities and Exchange Commission (the SEC) expanded the term “accredited investor” under rule 501 of Regulation D of the Securities Act. The change becomes effective on December 8, 2020. The SEC said it made the change to increase investment opportunities while maintaining investor protections.
Generally, to offer or sell a security (like stock) to an…
Corporate and Business
Blog
Business as Usual Under Governor Ducey’s Curfew Declaration
June 1, 2020
Businesses are confused about what Governor Ducey’s May 31st curfew declaration means for them. For example, one valley restaurant closed at 6:30 p.m. so its employees could make it home before the start of the 8:00 p.m. curfew. That, like other reported business adjustments across the state, was unnecessary.
It is true that the curfew generally prohibits anyone from (1)…
Corporate and Business
Blog
Avoid SBA Audits and Penalties by Documenting Entitlement to COVID-19 Emergency Assistance
May 14, 2020 (updated to include new SBA guidance)
When the government announced the Paycheck Protection Loan Program (PPP), it chose to rely on Borrower certifications, rather than normal underwriting, to issue the loans. Recent announcements and guidance from the U.S. Treasury Department and the U.S. Small Business Administration have announced their intention to audit Borrowers with loans in…
Corporate and Business
Blog
Arizona Small Business Access to Disaster Relief Loans Related to Coronavirus
March 26, 2020
On Thursday, March 18, 2020, the United States Government (through its Small Business Administration “SBA”) approved Arizona Governor Doug Ducey’s request to qualify all of Arizona for the SBA’s Economic Injury Disaster Loan program. Small businesses in Arizona may now apply for SBA loans for economic injury incurred as a result of the spread of the Coronavirus,…
Business Litigation
Blog
Unusual Times Call For Businesses to Look to Seldom Invoked Contract Provisions, Coverages, and Legal Concepts
March 23, 2020
In the past week, we have witnessed unprecedented cancellations, suspensions, and closures. Professional sports leagues have suspended their seasons. The NCAA Tournament has been canceled. Theaters and theme parks have closed. Universities, high schools, and grade schools across the country have suspended classes. Access to public buildings have been restricted. The President has…
Business Litigation
Blog
New Laws in Arizona Are Compelling LLC Members to Make Sure They Have Operating Agreements That Address Arizona’s New “Default Rules”
September 9, 2019
Both the Arizona Legislature and the Arizona Supreme Court have taken recent action that ought to be prompting members of Arizona LLC’s without operating agreements to be immediately drafting them. Indeed, even for those LLC’s that already have an operating agreement, members should be pulling them out and…
Business Litigation
Blog
Is Texting Putting Your Business in Jeopardy?
August 21, 2019
In recent years text messaging has become an inexpensive form of marketing for businesses. Unfortunately, for the unsuspecting business owner, texting could put your business in jeopardy if not done right.
The Telephone Consumer Protection Act (TCPA) is not a new law. It was passed in 1991. While it was originally enacted to target the telemarketing industry making invasive phone calls into…
Corporate and Business
Blog
Is Your Business Violating Federal Law by Sending Out Mass Text Messages?
October 23, 2018
Practice Area: Corporate and Business
In 1991, Congress passed the Telephone Consumer Protection Act (TCPA). In simple terms, the TCPA prohibits businesses and individuals from using automatic telephone dialing systems to call or text cell phones unless it is an emergency (e.g. such as an amber or weather alert) or prior express consent has been given.…
Corporate and Business
Blog
Is Your Business Violating Federal Law by Sending Out Mass Text Messages?
October 23, 2018
Practice Area: Corporate and Business
In 1991, Congress passed the Telephone Consumer Protection Act (TCPA). In simple terms, the TCPA prohibits businesses and individuals from using automatic telephone dialing systems to call or text cell phones unless it is an emergency (e.g. such as an amber or weather alert) or prior express consent has been given.…
Corporate and Business
Blog
Arizona Expands Securities Exemptions for New Companies
September 1, 2016
Practice Area: Corporate and Business
Are you forming a limited liability company (LLC) or a limited partnership (LP) in Arizona? Do you anticipate issuing ownership interests at the time of formation? If the answer to these questions is yes, then effective August 6, 2016, the offer and sale of those ownership interests may be exempt from registration under Arizona’s blue sky laws.
Arizona’s…