Arkansas § 4-38-1023 Approval of merger

Arkansas Statutes

§ 4-38-1023 — Approval of merger

Arkansas § 4-38-1023

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This text of Arkansas § 4-38-1023 (Approval of merger) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 4-38-1023 (2026).

Text

(a)A plan of merger is not effective unless it has been approved:

(1)by a domestic merging limited liability company, by all the members of the company entitled to vote on or consent to any matter; and (2) in a record, by each member of a domestic merging limited liability company which will have interest holder liability for debts, obligations, and other liabilities that are incurred after the merger becomes effective, unless:

(A)the operating agreement of the company provides in a record for the approval of a merger in which some or all of its members become subject to interest holder liability by the affirmative vote or consent of fewer than all the members; and (B) the member consented in a record to or voted for that provision of the operating agreement or became a member after the

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(a) A plan of merger is not effective unless it has been approved: (1) by a domestic merging limited liability company, by all the members of the company entitled to vote on or consent to any matter; and (2) in a record, by each member of a domestic merging limited liability company which will have interest holder liability for debts, obligations, and other liabilities that are incurred after the merger becomes effective, unless: (A) the operating agreement of the company provides in a record for the approval of a merger in which some or all of its members become subject to interest holder liability by the affirmative vote or consent of fewer than all the members; and (B) the member consented in a record to or voted for that provision of the operating agreement or became a member after the adoption of that provision. (b) A merger involving a domestic merging entity that is not a limited liability company is not effective unless the merger is approved by that entity in accordance with its organic law. (c) A merger involving a foreign merging entity is not effective unless the merger is approved by the foreign entity in accordance with the law of the foreign entity's jurisdiction of formation.