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Ark. Code Ann. § 4-32-1207

Action on plan of merger by constituent limited liability company

Known as the Small Business Entity Tax Pass Through Act

The act spans §§ 4–4 (91 sections).

Acts 2009, No. 408, § 5.

(1) Unless otherwise provided in writing in an operating agreement, a plan of merger must be consented to by more than one-half (1/2) by number of the members of a constituent limited liability company.

(2) Subject to any contractual rights, until articles of merger are filed under § 4-32-1208 a constituent limited liability company may amend the plan or abandon the planned merger: As provided in the plan; and

(3) Except as prohibited by the plan, with the same consent required to approve the plan.

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.