(a) The law of the jurisdiction of formation of a foreign limited liability company governs: (1) the internal affairs of the company;(2) the liability of a member as member and a manager as manager for a debt, obligation, or other liability of the company; and(3) the liability of a series of the company.(b) A foreign limited liability company is not precluded from registering to do business in this state because of any difference between the law of its jurisdiction of formation and the law of this state.(c) Registration of a foreign limited liability company to do business in this state does not authorize the foreign company to engage in any activities and affairs or exercise any power that a limited liability company may not engage in or exercise in this state.Added by Act 2021, No. 1041,§ 26, eff. 7/28/2021.
Arkansas Legal Code