# Ark. Code Ann. § 4-38-103: Knowledge - Notice

> Arkansas · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_AR_T4_C38_S1_S4-38-103

## Section

- **Citation:** Ark. Code Ann. § 4-38-103
- **Heading:** Knowledge - Notice
- **Jurisdiction:** Arkansas
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** AR Code / Title 4 / Chapter 38 / Subchapter 1 / Section 4-38-103

## Text

(a) A person knows a fact if the person: (1) has actual knowledge of it; or (2) is deemed to know it under subsection (d)(1) or law other than this chapter. (b) A person has notice of a fact if the person: (1) has reason to know the fact from all the facts known to the person at the time in question; or (2) is deemed to have notice of the fact under subsection (d)(2). (c) Subject to § 4-38-210(f) , a person notifies another person of a fact by taking steps reasonably required to inform the other person in ordinary course, whether or not those steps cause the other person to know the fact. (d) A person not a member is deemed: (1) to know of a limitation on authority to transfer real property as provided in § 4-38-302(g) ; and (2) to have notice of a limited liability company's: (A) dissolution 90 days after a statement of dissolution under § 4-38-702(b)(2)(A) becomes effective; (B) termination 90 days after a statement of termination under § 4-38-702(b)(2)(F) becomes effective; and (C) participation in a merger, interest exchange, conversion, or domestication, 90 days after articles of merger, interest exchange, conversion, or domestication under § 4-38-1001 et seq. become effective. Added by Act 2021, No. 1041,§ 26, eff. 7/28/2021.

(a) A person knows a fact if the person: (1) has actual knowledge of it; or (2) is deemed to know it under subsection (d)(1) or law other than this chapter.

(1) has actual knowledge of it; or

(2) is deemed to know it under subsection (d)(1) or law other than this chapter.

(b) A person has notice of a fact if the person: (1) has reason to know the fact from all the facts known to the person at the time in question; or (2) is deemed to have notice of the fact under subsection (d)(2).

(1) has reason to know the fact from all the facts known to the person at the time in question; or

(2) is deemed to have notice of the fact under subsection (d)(2).

(c) Subject to § 4-38-210(f) , a person notifies another person of a fact by taking steps reasonably required to inform the other person in ordinary course, whether or not those steps cause the other person to know the fact.

(d) A person not a member is deemed: (1) to know of a limitation on authority to transfer real property as provided in § 4-38-302(g) ; and (2) to have notice of a limited liability company's: (A) dissolution 90 days after a statement of dissolution under § 4-38-702(b)(2)(A) becomes effective; (B) termination 90 days after a statement of termination under § 4-38-702(b)(2)(F) becomes effective; and (C) participation in a merger, interest exchange, conversion, or domestication, 90 days after articles of merger, interest exchange, conversion, or domestication under § 4-38-1001 et seq. become effective.

(1) to know of a limitation on authority to transfer real property as provided in § 4-38-302(g) ; and

(2) to have notice of a limited liability company's: (A) dissolution 90 days after a statement of dissolution under § 4-38-702(b)(2)(A) becomes effective; (B) termination 90 days after a statement of termination under § 4-38-702(b)(2)(F) becomes effective; and (C) participation in a merger, interest exchange, conversion, or domestication, 90 days after articles of merger, interest exchange, conversion, or domestication under § 4-38-1001 et seq. become effective.

(A) dissolution 90 days after a statement of dissolution under § 4-38-702(b)(2)(A) becomes effective;

(B) termination 90 days after a statement of termination under § 4-38-702(b)(2)(F) becomes effective; and

(C) participation in a merger, interest exchange, conversion, or domestication, 90 days after articles of merger, interest exchange, conversion, or domestication under § 4-38-1001 et seq. become effective.

Added by Act 2021, No. 1041,§ 26, eff. 7/28/2021.

## Nearby sections

- [Ark. Code Ann. § 4-38-101 Short title](https://www.frixlaw.com/law-library/statutes/STATE_AR_T4_C38_S1_S4-38-101.md)
- [Ark. Code Ann. § 4-38-102 Definitions](https://www.frixlaw.com/law-library/statutes/STATE_AR_T4_C38_S1_S4-38-102.md)
- [Ark. Code Ann. § 4-38-103 Knowledge - Notice](https://www.frixlaw.com/law-library/statutes/STATE_AR_T4_C38_S1_S4-38-103.md)
- [Ark. Code Ann. § 4-38-104 Governing law](https://www.frixlaw.com/law-library/statutes/STATE_AR_T4_C38_S1_S4-38-104.md)
- [Ark. Code Ann. § 4-38-105 Operating agreement - Scope, function, and limitations](https://www.frixlaw.com/law-library/statutes/STATE_AR_T4_C38_S1_S4-38-105.md)
- [Ark. Code Ann. § 4-38-106 Operating agreement - Effect on limited liability company and person becoming member - Preformation agreements](https://www.frixlaw.com/law-library/statutes/STATE_AR_T4_C38_S1_S4-38-106.md)
- [Ark. Code Ann. § 4-38-107 Operating agreement - Effect on third parties and relationship to records effective on behalf of limited liability company](https://www.frixlaw.com/law-library/statutes/STATE_AR_T4_C38_S1_S4-38-107.md)
- [Ark. Code Ann. § 4-38-108 Nature, purpose, and duration of limited liability company](https://www.frixlaw.com/law-library/statutes/STATE_AR_T4_C38_S1_S4-38-108.md)
- [Ark. Code Ann. § 4-38-109 Powers](https://www.frixlaw.com/law-library/statutes/STATE_AR_T4_C38_S1_S4-38-109.md)
- [Ark. Code Ann. § 4-38-110 Application to existing relationships](https://www.frixlaw.com/law-library/statutes/STATE_AR_T4_C38_S1_S4-38-110.md)
- [Ark. Code Ann. § 4-38-111 Supplemental principles of law](https://www.frixlaw.com/law-library/statutes/STATE_AR_T4_C38_S1_S4-38-111.md)
- [Ark. Code Ann. § 4-38-112 Permitted names](https://www.frixlaw.com/law-library/statutes/STATE_AR_T4_C38_S1_S4-38-112.md)
- [Ark. Code Ann. § 4-38-113 Reservation of name](https://www.frixlaw.com/law-library/statutes/STATE_AR_T4_C38_S1_S4-38-113.md)
- [Ark. Code Ann. § 4-38-114 Registration of name](https://www.frixlaw.com/law-library/statutes/STATE_AR_T4_C38_S1_S4-38-114.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_AR_T4_C38_S1_S4-38-103. Check the current official text before relying on it. Not legal advice.