AR Code § 4-37-701 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 37 - Uniform Protected Series Act|Subchapter 7 - Foreign Protected Series|§ 4-37-701. Governing law

 The law of the jurisdiction of formation of a foreign series limited liability company governs:   (1) the internal affairs of a foreign protected series of the company, including:  (A) relations among any associated members of the foreign protected series;  (B) relations between the foreign protected series and:  (i) any associated member;  (ii) the protected-series manager; or  (iii) any protected-series transferee;    (C) relations between any associated member and:  (i) the protected-series manager:  (ii) any protected-series transferee;    (D) the rights and duties of a protected-series manager;  (E) governance decisions affecting the activities and affairs of the foreign protected series and the conduct of those activities and affairs; and  (F) procedures and conditions for becoming an associated member or protected-series transferee;    (2) relations between the foreign protected series and:  (A) the company;  (B) another foreign protected series of the company;  (C) a member of the company which is not an associated member of the foreign protected series;  (D) a foreign protected-series manager that is not a protected-series manager of the protected series;  (E) a foreign protected-series transferee that is not a foreign protected-series transferee of the protected series; and  (F) a transferee of a transferable interest of the company;    (3) except as otherwise provided in § 4-37-402 and § 4-37-404, the liability of a person for a debt, obligation, or other liability of a foreign protected series of a foreign series limited liability company if the debt, obligation, or liability is asserted solely by reason of the person being or acting as:  (A) an associated member, protected-series transferee, or protected-series manager of the foreign protected series;  (B) a member of the company which is not an associated member of the foreign protected series;  (C) a protected-series manager of another foreign protected series of the company;  (D) a protected-series transferee of another foreign protected series of the company;  (E) a manager of the company; or  (F) a transferee of a transferable interest of the company; and    (4) except as otherwise provided in § 4-37-402 and § 4-37-404:  (A) the liability of the foreign series limited liability company for a debt, obligation, or other liability of a foreign protected series of the company if the debt, obligation, or liability is asserted solely by reason of the foreign protected series being a foreign protected series of the company or the company:  (i) being or acting as a foreign protected-series manager of the foreign protected series;  (ii) having the foreign protected series manage the company; or  (iii) owning a protected-series transferable interest of the foreign protected series; and    (B) the liability of a foreign protected series for a debt, obligation, or other liability of the company or another foreign protected series of the company if the debt, obligation, or liability is asserted solely by reason of the foreign protected series:  (i) being a foreign protected series of the company or having the company or another foreign protected series of the company be or act as foreign protected-series manager of the foreign protected series; or  (ii) managing the company or being or acting as a foreign protected-series manager of another foreign protected series of the company.