An Arkansas LLC operating agreement solidifies the identity and standing of single and multi-member LLC owners, members, and managers so that each is aware of their roles. Further, it sets the guidelines for the company’s goals, procedures, and activities.
An Arkansas LLC operating agreement solidifies the identity and standing of single and multi-member LLC owners, members, and managers so that each is aware of their roles. Further, it sets the guidelines for the company’s goals, procedures, and activities.
No. LLCs do not need to develop an operating agreement in this state (Arkansas) but should implement one since they are considered binding, especially when signed and dated. (A.C.A. § 4-38)
“Operating agreement” is the agreed upon membership roster for an LLC as well as its policies on internal and external business activities whether verbal or in writing;
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