Legal Question in Business Law in Arizona

sale of private stock

I just read that you can sell stock of a private company to people,

Can you do this to raise funds for a start up llc. that is opening a strip club in Phoenix AZ. I found a very hard to find property that is one of the last in az zoned for adult business and I need to raise money before it is no longer grandfathered in. Thank you.

--name removed--of S.O.B. Alliance LLC


Asked on 6/02/09, 8:38 pm

2 Answers from Attorneys
Donald Scher Donald T. Scher & Associates, P.C.

Re: sale of private stock

You can raise money to start a business, however, you can do so in a small limited way that avoids being involved in the sale of securities, or depending upon the circumstances of what you are proposing to do, will involve the sale of securities. It is best if you can put a group of investors together, and who then form the legal entity to buy the property and develop the business you invision.

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Answered on 6/03/09, 1:03 am
Donald W. Hudspeth The Law Offices of Donald W. Hudspeth, P.C.

Re: sale of private stock

We have worked with investors in strip clubs and can help you with this. I suggest a one-hour consultation to go over the structure necessary to run this legally.

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Answered on 6/03/09, 12:42 pm


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