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4-37-302. Associated member.
Arkansas Code — all titles (historical 2020) · legal_authorities
4-37-302. Associated member.
(a) Only a member of a series limited liability company may be an associated member of a protected series of the company.
(b) A member of a series limited liability company becomes an associated member of a protected series of the company if the operating agreement or a procedure established by the agreement states:
(1) that the member is an associated member of the protected series;
(2) the date on which the member became an associated member; and
(3) any protected-series transferable interest the associated member has in connection with becoming or being an associated member.
(c) If a person that is an associated member of a protected series of a series limited liability company is dissociated from the company, the person ceases to be an associated member of the protected series.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-37-302
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.
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Record provenance
Stable record: arkansas_code:legal_authorities:4-37-302
Source file: gov.ar.code.title.04.odt
Pages: Not recorded – Not recorded
Passage SHA-256: c7911757d96690f3216ec976db5ac136043fecd8df6323ed0b439c1041204167
Source location: content.xml paragraph 25193
Stored source content
4-37-302. Associated member.
(a) Only a member of a series limited liability company may be an associated member of a protected series of the company.
(b) A member of a series limited liability company becomes an associated member of a protected series of the company if the operating agreement or a procedure established by the agreement states:
(1) that the member is an associated member of the protected series;
(2) the date on which the member became an associated member; and
(3) any protected-series transferable interest the associated member has in connection with becoming or being an associated member.
(c) If a person that is an associated member of a protected series of a series limited liability company is dissociated from the company, the person ceases to be an associated member of the protected series.
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