The lack of authority of a member or manager to sue on behalf of the limited liability company may not be asserted as a defense to an action by the limited liability company or by the limited liability company as a basis for bringing a subsequent suit on the same cause of action.
Ark. Code Ann. § 4-32-1103
Effect of lack of authority to sue
Known as the Small Business Entity Tax Pass Through Act
The act spans §§ 4–4 (91 sections).
Acts 1993, No. 1003, § 1103.
Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.