4-32-302. Admissions by members and managers.

Arkansas Code — all titles (historical 2020) · legal_authorities

4-32-302. Admissions by members and managers.

4-32-302. Admissions by members and managers. (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. (b) If the articles of organization provide that management of the limited liability company is vested in a manager or managers: (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) The admission or representation of any member, acting solely in the capacity of a member, shall not constitute evidence against the limited liability company.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-32-302

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.