reglab/housing_qa huggingface dataset:
AR Code § 4-32-701 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 32 - Small Business Entity Tax Pass Through Act|Subchapter 7 - Ownership and Transfer of Property|§ 4-32-701. Ownership of limited liability company property

 (a) Property transferred to or otherwise acquired by a limited liability company is property of the limited liability company and not of the members individually.  (b) Property may be acquired, held, and conveyed in the name of the limited liability company. Any interest in real property may be acquired in the name of the limited liability company, and title to any interest so acquired shall vest in the limited liability company rather than in the members individually.
AR Code § 4-32-702 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 32 - Small Business Entity Tax Pass Through Act|Subchapter 7 - Ownership and Transfer of Property|§ 4-32-702. Transfer of real property

 (a) If the articles of organization do not provide that management is vested in a manager or managers, then property of the limited liability company held in the name of the limited liability company may be transferred by an instrument of transfer executed by any member in the name of the limited liability company.  (b) Property of the limited liability company that is held in the name of one (1) or more members or managers with an indication in the instrument transferring the property to them of their capacity as members or managers of a limited liability company or of the existence of a limited liability company, if the name of the limited liability company is not indicated, may be transferred by an instrument of transfer executed by the persons in whose name title is held.  (c) Property transferred under subsections (a) and (b) of this section may be recovered by the limited liability company only if it proves that the person executing the instrument had no authority to do so, and the initial transferee had knowledge of the lack of authority unless the property has been transferred by the initial transferee or a person claiming through the initial transferee to a subsequent transferee who gives value without having notice that the person who executed the instrument of initial transfer lacked authority to bind the limited liability company.  (d) Property of the limited liability company held in the name of one (1) or more persons other than the limited liability company without an indication in the instrument transferring title to the property to them of their capacity as members or managers of a limited liability company or of the existence of a limited liability company may be transferred free of any claims of the limited liability company or the members by the persons in whose name title is held to a transferee who gives value without having notice that it is property of the limited liability company.  (e) If the articles of organization provide that management of the limited liability company is vested in a manager or managers:  (1) Title to property of the limited liability company that is held in the name of the limited liability company may be transferred by an instrument of transfer executed by any manager in the name of the limited liability company; and  (2) A member, solely by reason of being a member, shall not have authority to transfer property of the limited liability company.
AR Code § 4-32-703 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 32 - Small Business Entity Tax Pass Through Act|Subchapter 7 - Ownership and Transfer of Property|§ 4-32-703. Nature of limited liability company interest

 A limited liability company interest is personal property.
AR Code § 4-32-704 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 32 - Small Business Entity Tax Pass Through Act|Subchapter 7 - Ownership and Transfer of Property|§ 4-32-704. Assignment of interest

 (a) Unless otherwise provided in writing in an operating agreement:  (1) A limited liability company interest is assignable in whole or in part;  (2) An assignment entitles the assignee to receive, to the extent assigned, only the distributions to which the assignor would be entitled;  (3) An assignment of a limited liability company interest does not dissolve the limited liability company or entitle the assignee to participate in the management and affairs of the limited liability company or to become or exercise any rights of a member;  (4) Until the assignee of a limited liability company interest becomes a member, the assignor continues to be a member and to have the power to exercise any rights of a member, subject to the member's right to remove the assignor pursuant to § 4-32-802(a)(3)(B);  (5) Until an assignee of a limited liability company interest becomes a member, the assignee has no liability, if any, as a member solely as a result of the assignment; and  (6) The assignor of a limited liability company interest is not released from his or her liability as a member solely as a result of the assignment.    (b) An operating agreement may provide that a member's limited liability company interest may be evidenced by a certificate of limited liability company interest issued by the limited liability company and may also provide for the assignment or transfer of any interest represented by the certificate.
AR Code § 4-32-705 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 32 - Small Business Entity Tax Pass Through Act|Subchapter 7 - Ownership and Transfer of Property|§ 4-32-705. Rights of judgment creditor

 (a)  (1) On application to a court of competent jurisdiction by any judgment creditor of a member, the court may charge the member's limited liability company interest with payment of the unsatisfied amount of judgment with interest.  (2) To the extent so charged, the judgment creditor has only the rights of an assignee of the member's limited liability company interest.  (3) This chapter does not deprive any member of the benefit of any exemption laws applicable to his or her limited liability company interest.    (b) Upon the filing of a charging application by a judgment creditor of a member under subdivision (a)(1) of this section and the recording of the charging application in the register of the Secretary of State as required under subsection (c) of this section, a temporary lien is created in favor of the judgment creditor against the member's membership interest in the limited liability company interest until a ruling by the court is entered on the record or the application is dismissed.  (c) The Secretary of State shall:  (1) Create a register within the Uniform Commercial Code lien filings for charging applications received under subsection (b) of this section; and  (2) Maintain the register so that the register can be searched in the same manner as the lien filings of the Uniform Commercial Code, § 4-1-101 et seq.
AR Code § 4-32-706 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 32 - Small Business Entity Tax Pass Through Act|Subchapter 7 - Ownership and Transfer of Property|§ 4-32-706. Right of assignee to become member

 (a) Unless otherwise provided in writing in an operating agreement, an assignee of a limited liability company interest may become a member only if the other members unanimously consent. The consent of a member may be evidenced in any manner specified in writing in an operating agreement, but in the absence of specification, consent shall be evidenced by a written instrument dated and signed by the member.  (b) An assignee who becomes a member has to the extent assigned the rights and powers and is subject to the restrictions and liabilities of a member under the articles of organization, any operating agreement, and this chapter. An assignee who becomes a member also is liable for any obligations of the assignor to make contributions under § 4-32-502. However, the assignee is not obligated for liabilities of which the assignee had no knowledge at the time he or she became a member and which could not be ascertained from the written records of the limited liability company kept pursuant to § 4-32-405.  (c) Whether or not an assignee of a limited liability company interest becomes a member, the assignor is not released from his or her liability, if any, to the limited liability company under § 4-32-502.  (d) Unless otherwise provided in writing in an operating agreement, a member who assigns his or her entire limited liability company interest ceases to be a member or to have the power to exercise any rights of a member when the assignee becomes a member with respect to the entire assigned interest.
AR Code § 4-32-707 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 32 - Small Business Entity Tax Pass Through Act|Subchapter 7 - Ownership and Transfer of Property|§ 4-32-707. Powers of estate of deceased or incompetent member

 If a member who is an individual dies or a court of competent jurisdiction adjudges the member to be incompetent to manage his or her person or property, the member's executor, administrator, guardian, conservator, or other legal representative shall have all of the rights of an assignee of the member's interest.
AR Code § 4-32-801 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 32 - Small Business Entity Tax Pass Through Act|Subchapter 8 - Admission and Withdrawal of Members|§ 4-32-801. Admission of members

 (a) Subject to subsection (b) of this section, a person may become a member in a limited liability company:  (1) In the case of a person acquiring a limited liability company interest directly from the limited liability company, upon compliance with an operating agreement or, if an operating agreement does not so provide in writing, upon the written consent of all members; and  (2) In the case of an assignee of a limited liability company interest, as provided in § 4-32-706.    (b) The effective time of admission of a member to a limited liability company shall be the later of:  (1) The date the limited liability company is formed; or  (2) The time provided in an operating agreement or, if no such time is provided therein, then when the person's admission is reflected in the records of the limited liability company.
AR Code § 4-32-901 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 32 - Small Business Entity Tax Pass Through Act|Subchapter 9 - Dissolution|§ 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.
AR Code § 4-32-902 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 32 - Small Business Entity Tax Pass Through Act|Subchapter 9 - Dissolution|§ 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.
AR Code § 4-32-903 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 32 - Small Business Entity Tax Pass Through Act|Subchapter 9 - Dissolution|§ 4-32-903. Winding up

 Unless otherwise provided in writing in an operating agreement:   (1) The business or affairs of the limited liability company may be wound up:  (A) By the members or managers who have authority to manage the limited liability company prior to dissolution pursuant to § 4-32-401; or  (B) If one (1) or more of such members or managers have engaged in wrongful conduct, or upon other cause shown, by a circuit court on application of any member or any member's legal representative or assignee.    (2) The persons winding up the business or affairs of the limited liability company may, in the name of, and for and on behalf of, the limited liability company:  (A) Prosecute and defend suits;  (B) Settle and close the business of the limited liability company;  (C) Dispose of and transfer the property of the limited liability company;  (D) Discharge the liabilities of the limited liability company; and  (E) Distribute to the members any remaining assets of the limited liability company.
AR Code § 4-32-904 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 32 - Small Business Entity Tax Pass Through Act|Subchapter 9 - Dissolution|§ 4-32-904. Agency power of managers or members after dissolution

 (a) Except as provided in subsections (c)-(e) of this section, after dissolution of the limited liability company, each of the members having authority to wind up the limited liability company's business and affairs can bind the limited liability company:  (1) By any act appropriate for winding up the limited liability company's affairs or completing transactions unfinished at dissolution; and  (2) By any transaction that would have bound the limited liability company if it had not been dissolved, if the other party to the transaction does not have notice of the dissolution.    (b) The filing of the articles of dissolution shall be presumed to constitute notice of dissolution for purposes of subdivision (a)(2) of this section.  (c) An act of a member which is not binding on the limited liability company pursuant to subsection (a) of this section is binding if it is otherwise authorized by the limited liability company.  (d) An act of a member which would be binding under subsection (a) of this section or would be otherwise authorized but which is in contravention of a restriction on authority shall not bind the limited liability company to persons having knowledge of the restriction.  (e) If the articles of organization vest management of the limited liability company in managers, a manager shall have the authority of a member provided for in subsection (a) of this section, and no member shall have such authority if the member is acting solely in the capacity of a member.
AR Code § 4-32-905 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 32 - Small Business Entity Tax Pass Through Act|Subchapter 9 - Dissolution|§ 4-32-905. Distribution of assets

 Upon the winding up of a limited liability company, the assets shall be distributed as follows:   (1) Payment, or adequate provision for payment, shall be made to creditors, including, to the extent permitted by law, members who are creditors in satisfaction of liabilities of the limited liability company;  (2) Unless otherwise provided in writing in an operating agreement, to members or former members in satisfaction of liabilities for distributions under §§ 4-32-601 and 4-32-602; and  (3) Unless otherwise provided in writing in an operating agreement, to members and former members first for the return of their contribution and second in proportion to the members' respective rights to share in distributions from the limited liability company prior to dissolution.
AR Code § 4-32-906 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 32 - Small Business Entity Tax Pass Through Act|Subchapter 9 - Dissolution|§ 4-32-906. Articles of dissolution

 After the dissolution of the limited liability company pursuant to § 4-32-901, the limited liability company may file articles of dissolution with the Secretary of State which set forth:   (1) The name of the limited liability company;  (2) The date of filing of its articles of organization and all amendments thereto;  (3) The reason for filing the articles of dissolution;  (4) The effective date, which shall be a date certain, of the articles of dissolution if they are not to be effective upon the filing; and  (5) Any other information the members or managers filing the certificate shall deem proper.
AR Code § 4-32-907 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 32 - Small Business Entity Tax Pass Through Act|Subchapter 9 - Dissolution|§ 4-32-907. Known claims against dissolved limited liability company

 (a) Upon dissolution, a limited liability company may dispose of the known claims against it by filing articles of dissolution pursuant to § 4-32-906 and following the procedures described in this section.  (b) The limited liability company shall notify its known claimants in writing of the dissolution at any time after the effective date of dissolution. The written notice must:  (1) Describe information that must be included in a claim;  (2) Provide a mailing address where a claim may be sent;  (3) State the deadline, which may not be less than one hundred twenty (120) days after the later of the date of the written notice or the filing of articles of dissolution pursuant to § 4-32-906, by which the limited liability company must receive the claim; and  (4) State that the claim will be barred if not received by the deadline.    (c) A claim against the limited liability company is barred:  (1) If a claimant who was given written notice under subsection (b) of this section does not deliver the claim to the limited liability company by the deadline; or  (2) If a claimant whose claim was rejected by the limited liability company does not commence a proceeding to enforce the claim within ninety (90) days after the date of the rejection notice or deemed rejection.    (d) For purposes of this section, “claim” does not include a contingent liability or a claim based on an event occurring after the effective date of dissolution.  (e) Provided, that any claim not responded to by the limited liability company within thirty (30) days after receipt shall be deemed to have been rejected.
AR Code § 4-32-908 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 32 - Small Business Entity Tax Pass Through Act|Subchapter 9 - Dissolution|§ 4-32-908. Unknown claims against dissolved limited liability company

 (a) A limited liability company may publish notice of its dissolution pursuant to this section which requests that persons with claims against the limited liability company present them in accordance with the notice.  (b) The notice must:  (1) Be published one (1) time in a newspaper of general circulation in the county where the limited liability company's principal office is located or in a newspaper of general circulation in Pulaski County if the company does not have a principal office in this state;  (2) Describe the information that must be included in a claim and provide a mailing address where the claim may be sent; and  (3) State that a claim against the limited liability company will be barred unless a proceeding to enforce the claim is commenced within the earlier of five (5) years after the publication of the notice or the expiration of the applicable period of limitations otherwise provided under law.    (c) If the limited liability company publishes a newspaper notice in accordance with subsection (b) of this section and files articles of dissolution pursuant to § 4-32-906, the claim of each of the following claimants is barred unless the claimant commences a proceeding to enforce the claim against the limited liability company within the earlier of the applicable period of limitations otherwise provided under law or five (5) years after the later of the publication date of the newspaper notice or the filing of the articles of dissolution:  (1) A claimant who did not receive written notice under § 4-32-907; or  (2) A claimant whose claim is contingent or based on an event occurring after the effective date of dissolution.    (d) A claim may be enforced under this section:  (1) Against the limited liability company, to the extent of its undistributed assets; or  (2) If the assets have been distributed in liquidation, against a member of the limited liability company to the extent of his or her pro rata share of the claim or the assets of the limited liability company distributed to him or her in liquidation, whichever is less, but a member's total liability for all claims under this section may not exceed the total amount of assets distributed to him or her in liquidation.
AR Code § 4-32-1001 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 32 - Small Business Entity Tax Pass Through Act|Subchapter 10 - Foreign Limited Liability Companies|§ 4-32-1001. Law governing

 Subject to the Arkansas Constitution, the laws of the state or other jurisdiction under which a foreign limited liability company is organized shall govern its organization and internal affairs and the liability and authority of its managers and members. A foreign limited liability company may not be denied registration by reason of any difference between those laws and the laws of this state.
AR Code § 4-32-1002 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 32 - Small Business Entity Tax Pass Through Act|Subchapter 10 - Foreign Limited Liability Companies|§ 4-32-1002. Registration

 Before transacting business in this state, a foreign limited liability company shall register with the Secretary of State by submitting to the Secretary of State an original signed copy of an application for registration as a foreign limited liability company executed by a person with authority to do so under the laws of the state or other jurisdiction of its formation. The application shall set forth:   (1) The name of the foreign limited liability company and if the company's name is unavailable for use in this state, the name under which it proposes to transact business in this state;  (2) The state or other jurisdiction where formed and the date of its formation;  (3) The information required by § 4-20-105(a);  (4) A statement confirming that the foreign limited liability company has filed a statement appointing an agent for service of process under § 4-20-112 and may be served with process under § 4-20-113 if the foreign limited liability company fails to appoint or maintain a registered agent for service of process;  (5) The address of the office required to be maintained in the state or other jurisdiction of its formation by the laws of that state or jurisdiction or, if not so required, of the principal office of the foreign limited liability company; and  (6) A statement evidencing that the foreign limited liability company is a “foreign limited liability company” as defined in § 4-32-102(5).