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Newsletter + Legal Alerts
Legal Alert: Online Sales and Delivery of Alcohol
Author: Camila Alarcon
Issue: May 21, 2018
Online Sales and Delivery of Alcohol
Arizona Attorney General Mark Brnovich issued an opinion, dated April 6, 2018, on the sale and delivery of alcohol, and the use of websites and mobile device applications for the delivery of alcohol. This opinion changes or clarifies, depending on your point of view, the following common practices:
- Those businesses that can receive orders online need to ensure that orders are not placed or transmitted between 2:00 a.m. and 6:00 a.m. This includes retailers with off-sale privileges, direct shipment licensees, farm wineries, and craft distilleries.
Mike King’s Corner: Name That Debtor–Correctly!
Author: Mike King
Issue: May 16, 2018
QUESTION: WHAT COLOSSAL MISCUE CAUSED A CREDITOR TO LOSE ABOUT $78,000 WORTH OF COLLATERAL?
ANSWER: INADVERTENTLY OMITTING THE LETTER “T” FROM THE DEBTOR’S MIDDLE NAME INVALIDATED THE UCC-1 FINANCING STATEMENT!
What’s in a name?
Ronald Markt Nay bought two Terex Dump Wagons with loans from LEAF Capital Funding, LLC (“LEAF”). One loan was for $41,000 and the other loan was for $36,950. LEAF filed UCC-1 financing statements with the Indiana Secretary of State’s Office to perfect its liens against the two dump wagons.
Gammage & Burnham Newsletter – May 2018
Mike King’s Corner: Don’t Fence Me In!
Author: Michael R. King
Issue: April 30, 2018
QUESTION: BUT THE HEIFER RAN IN FRONT OF MY CAR, WHY DO I HAVE TO PAY FOR THE DEAD ANIMAL?
ANSWER: IN ARIZONA YOU CAN BE LIABLE FOR ACCIDENTALLY INJURING LIVESTOCK, AND THE OWNER OF THE LIVESTOCK PROBABLY DOESN’T HAVE A DUTY TO PROTECT YOU FROM THE LIVESTOCK YOU HIT!
Most of Arizona is open range.
Arizona is a “fence out” state, meaning that on open range you need to build a “lawful fence” if you want to keep wandering livestock off your property.
Legal Alert: Opportunity Zones And Opportunity Funds
Posted by Chris L. Raddatz
Opportunity Zones and Opportunity Funds—A Win-Win for Investors and Low-Income Community Businesses
An often-overlooked program enacted as part of the Tax Cuts and Jobs Act creates Opportunity Zones to incentivize economic development and job creation in low-income communities. The new program, outlined in new Internal Revenue Code sections 1400Z-1 and -2, allows unlimited amounts of otherwise taxable capital gains to be deferred and subsequent earnings on capital gains invested in Opportunity Funds to be forgiven altogether. To defer the gain, a taxpayer must invest the proceeds from the sale into an Opportunity Fund within 180 days in an amount equal to the gain being deferred.
