Arkansas § 4-38-106 Operating agreement - Effect on limited liability company and person becoming member - Preformation agreements

Arkansas Statutes

§ 4-38-106 — Operating agreement - Effect on limited liability company and person becoming member - Preformation agreements

Arkansas § 4-38-106

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This text of Arkansas § 4-38-106 (Operating agreement - Effect on limited liability company and person becoming member - Preformation agreements) 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. § 4-38-106 (2026).

Text

(a)A limited liability company is bound by and may enforce the operating agreement, whether or not the company has itself manifested assent to the operating agreement.

(b)A person that becomes a member is deemed to assent to the operating agreement.

(c)Two or more persons intending to become the initial members of a limited liability company may make an agreement providing that upon the formation of the company the agreement will become the operating agreement. One person intending to become the initial member of a limited liability company may assent to terms providing that upon the formation of the company the terms will become the operating agreement.

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(a) A limited liability company is bound by and may enforce the operating agreement, whether or not the company has itself manifested assent to the operating agreement. (b) A person that becomes a member is deemed to assent to the operating agreement. (c) Two or more persons intending to become the initial members of a limited liability company may make an agreement providing that upon the formation of the company the agreement will become the operating agreement. One person intending to become the initial member of a limited liability company may assent to terms providing that upon the formation of the company the terms will become the operating agreement.