{"data":{"id":"us-ar/ark.-code-ann.-4-37-302","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 4-37-302","heading":"Associated member","body":"(a) Only a member of a series limited liability company may be an associated member of a protected series of the company. (b) A member of a series limited liability company becomes an associated member of a protected series of the company if the operating agreement or a procedure established by the agreement states: (1) that the member is an associated member of the protected series; (2) the date on which the member became an associated member; and (3) any protected-series transferable interest the associated member has in connection with becoming or being an associated member. (c) If a person that is an associated member of a protected series of a series limited liability company is dissociated from the company, the person ceases to be an associated member of the protected series. Added by Act 2019, No. 665,§ 1, eff. 7/24/2019.\n\n(a) Only a member of a series limited liability company may be an associated member of a protected series of the company.\n\n(b) A member of a series limited liability company becomes an associated member of a protected series of the company if the operating agreement or a procedure established by the agreement states: (1) that the member is an associated member of the protected series; (2) the date on which the member became an associated member; and (3) any protected-series transferable interest the associated member has in connection with becoming or being an associated member.\n\n(1) that the member is an associated member of the protected series;\n\n(2) the date on which the member became an associated member; and\n\n(3) any protected-series transferable interest the associated member has in connection with becoming or being an associated member.\n\n(c) If a person that is an associated member of a protected series of a series limited liability company is dissociated from the company, the person ceases to be an associated member of the protected series.","path":["AR Code","Title 4","Chapter 37","Subchapter 3"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_ar_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:41Z","sha256":"1753aeb3622c7a6713ae6a7adf7acb4bc000be98fdecfa1ea23e6f55122dbda5","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-4-37-301","next":"us-ar/ark.-code-ann.-4-37-303"},"notice":"GroundRules: Original legal text. Not legal advice."}