Admissions by members and managers

  1. Law
  2. Arkansas Code
  3. Business and Commercial Law
  4. Corporations and Associations
  5. Small Business Entity Tax Pass Through Act
  6. Relations of Members and Managers to Persons Dealing with the Limited Liability Company
  7. Admissions by members and managers

Checkout our iOS App for a better way to browser and research.

  1. (a) Except as provided in subsection (b) of this section, an admission or representation made by any member concerning the business or affairs of a limited liability company within the scope of his or her authority as provided for by this chapter is evidence against the limited liability company.

  2. (b) If the articles of organization provide that management of the limited liability company is vested in a manager or managers:

    1. (1) An admission or representation made by a manager concerning the business or affairs of a limited liability company within the scope of the manager's authority as provided for by this chapter is evidence against the limited liability company; and

    2. (2) The admission or representation of any member, acting solely in the capacity of a member, shall not constitute evidence against the limited liability company.


Download our app to see the most-to-date content.