Arkansas Repeals its LLC Laws and Adopts the Uniform Limited Liability Company Act
By EsqSocial Corporation 12/05/21
Arkansas recently became the 20th state to enact the Uniform Limited Liability Company Act (the “ULLCA”) as the governing law for the formation and operation of limited liability companies in the state. On April 30, 2021, Governor Hutchinson signed SB601 into law, now known as Act 1041 of 2021, which repeals the Small Business Entity Tax Pass-Through Act and replaces it with the ULLCA. The new Act will take effect on September 1, 2021, although companies formed prior to September 1 may elect to...
By: Mitchell, Williams, Selig, Gates & Woodyard,