Arkansas § 4-37-104 Powers and duration of protected series

Arkansas Statutes

§ 4-37-104 — Powers and duration of protected series

(a)A protected series of a series limited liability company has the capacity to sue and be sued in its own name.

(b)Except as otherwise provided in subsections (c) and (d), a protected series of a series limited liability company has the same powers and purposes as the company.

(c)A protected series of a series limited liability company ceases to exist not later than when the company completes its winding up.

(d)A protected series of a series limited liability company may not:

(1)be a member of the company;

(2)establish a protected series; or (3) except as permitted by law of this state other than this chapter, have a purpose or power that the law of this state other than this chapter prohibits a limited liability company from doing or having.

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(a) A protected series of a series limited liability company has the capacity to sue and be sued in its own name. (b) Except as otherwise provided in subsections (c) and (d), a protected series of a series limited liability company has the same powers and purposes as the company. (c) A protected series of a series limited liability company ceases to exist not later than when the company completes its winding up. (d) A protected series of a series limited liability company may not: (1) be a member of the company; (2) establish a protected series; or (3) except as permitted by law of this state other than this chapter, have a purpose or power that the law of this state other than this chapter prohibits a limited liability company from doing or having.

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