Management

  1. Law
  2. Arkansas Code
  3. Business and Commercial Law
  4. Corporations and Associations
  5. Small Business Entity Tax Pass Through Act
  6. Rights and Duties of Members and Managers
  7. Management

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  1. (a) With respect to persons other than members, management of the affairs of the limited liability company shall be governed by § 4-32-301.

  2. (b) Unless otherwise provided in an operating agreement, with respect to members, management of the affairs of the limited liability company shall be governed by § 4-32-301.

  3. (c) Unless otherwise provided in an operating agreement, managers:

    1. (1) Shall be designated, appointed, elected, removed, or replaced by a vote, approval, or consent of more than one-half (½) by number of the members;

    2. (2) Need not be members of the limited liability company or natural persons; and

    3. (3) Unless they are sooner removed or sooner resign, shall hold office until their successors shall have been elected and qualified.


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