2010 Arkansas Code
4-32-1008. Transactions not constituting transacting business.
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
§ 4-32-1008 - Transactions not constituting transacting business.
(a) The following activities of a foreign limited liability company, among others, do not constitute transacting business within the meaning of this subchapter:
(1) Maintaining, defending, or settling any proceeding;
(2) Holding meetings of its members or managers or carrying on any other activities concerning its internal affairs;
(3) Maintaining bank accounts;
(4) Maintaining offices or agencies for the transfer, exchange, and registration of the foreign limited liability company's own securities or interests or maintaining trustees or depositories with respect to those securities or interests;
(5) Selling through independent contractors;
(6) Soliciting or obtaining orders, whether by mail or through employees or agents or otherwise, if the orders require acceptance outside this state before they become contracts;
(7) Creating or acquiring indebtedness, mortgages, and security interests in real or personal property;
(8) Securing or collecting debts or enforcing mortgages and security interests in property securing debts;
(9) Owning, without more, real or personal property;
(10) Conducting an isolated transaction that is completed within thirty (30) days and that is not one in the course of repeated transactions of a like nature; or
(11) Transacting business in interstate commerce.
(b) The foreign limited liability company shall not be considered to be transacting business solely because it:
(1) Owns a controlling interest in a corporation that is transacting business;
(2) Is a limited partner of a limited partnership that is transacting business; or
(3) Is a member or manager of a limited liability company or foreign limited liability company that is transacting business.
(c) This section does not apply in determining the contacts or activities that may subject a foreign limited liability company to service of process or taxation in this state or to other law or to regulation under any other law of this state.
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