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4-32-901. Dissolution.
Arkansas Code — all titles (historical 2020) · legal_authorities
4-32-901. Dissolution.
A limited liability company is dissolved and its affairs shall be wound up upon the happening of the first to occur of the following:
(1) At the time or upon the occurrence of events specified in writing in the articles of organization or an operating agreement, but if no such time is set forth in either of the foregoing, then the limited liability company shall have a perpetual existence;
(2) The written consent of all members;
(3) At any time there are no members, provided that, unless otherwise provided in the articles of organization or an operating agreement, the limited liability company is not dissolved and is not required to be wound up if within ninety (90) days or such other period as is provided for in the articles of organization or an operating agreement after the occurrence of the event that terminated the continued membership of the last remaining member, the personal representative of the last remaining member agrees in writing to continue the limited liability company and to the admission of the personal representative of the member or its nominee or designee to the limited liability company as a member, effective as of the occurrence of the event that terminated the continued membership of the last remaining member; and
(4) The entry of a decree of judicial dissolution under § 4-32-902.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-32-901
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.
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Record provenance
Stable record: arkansas_code:legal_authorities:4-32-901
Source file: gov.ar.code.title.04.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 407b2234f71708623b4a65a7f8013ef0a98aa94c7d892890df9d4895dc034436
Source location: content.xml paragraph 21302
Stored source content
4-32-901. Dissolution.
A limited liability company is dissolved and its affairs shall be wound up upon the happening of the first to occur of the following:
(1) At the time or upon the occurrence of events specified in writing in the articles of organization or an operating agreement, but if no such time is set forth in either of the foregoing, then the limited liability company shall have a perpetual existence;
(2) The written consent of all members;
(3) At any time there are no members, provided that, unless otherwise provided in the articles of organization or an operating agreement, the limited liability company is not dissolved and is not required to be wound up if within ninety (90) days or such other period as is provided for in the articles of organization or an operating agreement after the occurrence of the event that terminated the continued membership of the last remaining member, the personal representative of the last remaining member agrees in writing to continue the limited liability company and to the admission of the personal representative of the member or its nominee or designee to the limited liability company as a member, effective as of the occurrence of the event that terminated the continued membership of the last remaining member; and
(4) The entry of a decree of judicial dissolution under § 4-32-902.
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Arkansas Code — all titles (historical 2020) · legal_authorities
4-32-902. Judicial dissolution.
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.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-32-902
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. The source passage cites 4-32-902. This identifies an authority to review, not proof of applicability.