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2017 Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 3 - Corporations and Associations
Chapter 32 - Small Business Entity Tax Pass Through Act
Subchapter 3 - Relations of Members and Managers to Persons Dealing With the Limited Liability Company
§ 4-32-302. Admissions by members and managers
Universal Citation: AR Code § 4-32-302 (2017)
- (a) Except as provided in subsection (b) of this section, an admission or representation made by any member concerning the business or affairs of a limited liability company within the scope of his or her authority as provided for by this chapter is evidence against the limited liability company.
- (b) If the articles of organization provide that management of the limited liability company is vested in a manager or managers:
- (1) An admission or representation made by a manager concerning the business or affairs of a limited liability company within the scope of the manager's authority as provided for by this chapter is evidence against the limited liability company; and
- (2) The admission or representation of any member, acting solely in the capacity of a member, shall not constitute evidence against the limited liability company.
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