On application by or for a member, a circuit court may decree dissolution of a limited liability company whenever it is not reasonably practicable to carry on the business of the limited liability company in conformity with the operating agreement.
Ark. Code Ann. § 4-32-902
Judicial dissolution
Known as the Small Business Entity Tax Pass Through Act
The act spans §§ 4–4 (91 sections).
Applied in 1 court decision — leading case Oliver v. Johanson (2018)
Most recently applied in Oliver v. Johanson (November 2018)
Acts 1993, No. 1003, § 902.
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.