Public-domain · open source
OpenJurist

Ark. Code Ann. § 4-46-910

Restrictions on approval of conversions and mergers and on relinquishing limited liability partnership status

Known as the Uniform Partnership Act

The act spans §§ 4-46-1001 to 4-46-913 (71 sections).

Acts 2009, No. 408, § 6.

(1) If a partner of a converting or constituent partnership will have personal liability with respect to a converted or surviving organization, approval and amendment of a plan of conversion or merger are ineffective without the consent of the partner unless: The partnership's partnership agreement provides for the approval of the conversion or merger with the consent of fewer than all of the partners; and

(2) The partner has consented to the provision of the partnership agreement.

(3) An amendment to a statement of qualification of a limited liability partnership which deletes a statement that the partnership is a limited liability partnership is ineffective without the consent of each partner unless: The partnership's partnership agreement provides for the amendment with the consent of less than all of the partners; and

(4) Each partner that does not consent to the amendment has consented to the provision of the partnership agreement.

(5) A partner does not give the consent required by subsection (a) or subsection (b) of this section merely by consenting to a provision of the partnership agreement that permits the partnership agreement to be amended with the consent of fewer than all the partners.

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.