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2020 Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 3 - Corporations and Associations
Chapter 31 - Foreign Investors
Subchapter 4 - Filing Procedure for Foreign Business Trusts
§ 4-31-402. Filing requirements

Universal Citation: AR Code § 4-31-402 (2020)
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  1. (a)

    1. (1) A business trust, for the purpose of this subchapter, shall be foreign.

    2. (2) A foreign business trust includes every foreign business trust.

  2. (b) Any foreign business trust desiring to transact business in this state shall deliver to the Secretary of State:

    1. (1) A form provided by the Secretary of State's office or an executed copy of the articles, declaration of trust, or trust agreement by which the trust was created and all amendments thereto, or a true copy thereof certified to be such by a trustee of the trust before a notary or by a public official of another state territory or country in whose office an executed copy thereof is on file;

    2. (2) A verified list of the names, residences, and post office addresses of its trustees;

    3. (3) An affidavit setting forth its assumed business name, if any; and

    4. (4) A foreign business trust shall deliver to the Secretary of State the location of its principal office, the information required by § 4-20-105(a), and its irrevocable consent to service of process duly signed by a majority of its trustees to bind the business trust by such irrevocable consent.

  3. (c) When a foreign business trust has complied with the delivery requirements as provided in this section, the Secretary of State, after determining that all requirements have been met, shall file the delivered documents of foreign business trusts and the foreign business trusts may thereupon commence business.

  4. (d) Upon the filing of the form provided by the Secretary of State or the copy of articles, declaration of trust, or trust agreement and the payment of a filing fee in compliance with the laws of the State of Arkansas, the Secretary of State shall issue to the trustee named in the form or articles, declaration of trust, or trust agreement, a certificate showing that the declaration of trust has been on file in the office, whereupon such association shall be authorized to transact business in this state provided that all other applicable laws have been followed.

  5. (e)

    1. (1) The articles, declaration of trust, or trust agreement by which any foreign business trust was created may be amended in the manner specified therein or in such manner as is valid under the law applicable to the foreign business trust.

    2. (2) Provided, that no amendment shall be legally effected in the state until a copy thereof has been filed with the Secretary of State.

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