{"data":{"id":"us-ar/ark.-code-ann.-4-38-603","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 4-38-603","heading":"Effect of dissociation","body":"(a) If a person is dissociated as a member: (1) the person's right to participate as a member in the management and conduct of the limited liability company's activities and affairs terminates; (2) the person's duties and obligations under § 4-38-409 as a member end with regard to matters arising and events occurring after the person's dissociation; and (3) subject to § 4-38-504 and § 4-38-1001 et seq., any transferable interest owned by the person in the person's capacity as a member immediately before dissociation is owned by the person solely as a transferee. (b) A person's dissociation as a member does not of itself discharge the person from any debt, obligation, or other liability to the limited liability company or the other members which the person incurred while a member. Added by Act 2021, No. 1041,§ 26, eff. 7/28/2021.\n\n(a) If a person is dissociated as a member: (1) the person's right to participate as a member in the management and conduct of the limited liability company's activities and affairs terminates; (2) the person's duties and obligations under § 4-38-409 as a member end with regard to matters arising and events occurring after the person's dissociation; and (3) subject to § 4-38-504 and § 4-38-1001 et seq., any transferable interest owned by the person in the person's capacity as a member immediately before dissociation is owned by the person solely as a transferee.\n\n(1) the person's right to participate as a member in the management and conduct of the limited liability company's activities and affairs terminates;\n\n(2) the person's duties and obligations under § 4-38-409 as a member end with regard to matters arising and events occurring after the person's dissociation; and\n\n(3) subject to § 4-38-504 and § 4-38-1001 et seq., any transferable interest owned by the person in the person's capacity as a member immediately before dissociation is owned by the person solely as a transferee.\n\n(b) A person's dissociation as a member does not of itself discharge the person from any debt, obligation, or other liability to the limited liability company or the other members which the person incurred while a member.","path":["AR Code","Title 4","Chapter 38","Subchapter 6"],"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":"1ac998a8e585215585e4fd981b1b7bb9ece8fcef700fa7e229451f64fa98682c","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-4-38-602","next":"us-ar/ark.-code-ann.-4-38-701"},"notice":"GroundRules: Original legal text. Not legal advice."}