2005 Arizona Revised Statutes - Revised Statutes §29-609  Purpose; title insurance agent

A. Except as provided in subsection B of this section, a limited liability company may be organized under this chapter and may conduct or promote business and other activities for any lawful purpose, except banking or insurance.

B. A limited liability company may conduct business as a title insurance agent as defined in section 20-1562. For the purposes of title insurance transactions only, the members of the limited liability company are individually responsible, equally and ratably, and not one for another, for all contracts, debts and engagements of the limited liability company, to the extent of the amount of each member's initial investment in the limited liability company.