# Ark. Code Ann. § 4-38-108: Nature, purpose, and duration of limited liability company

> Arkansas · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_AR_T4_C38_S1_S4-38-108

## Section

- **Citation:** Ark. Code Ann. § 4-38-108
- **Heading:** Nature, purpose, and duration of limited liability company
- **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 4-38-108

## Text

(a) A limited liability company is an entity distinct from its member or members. (b) A limited liability company may have any lawful purpose, regardless of whether for profit. (c) A limited liability company has perpetual duration. Added by Act 2021, No. 1041,§ 26, eff. 7/28/2021.

(a) A limited liability company is an entity distinct from its member or members.

(b) A limited liability company may have any lawful purpose, regardless of whether for profit.

(c) A limited liability company has perpetual duration.

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_S4-38-108. Check the current official text before relying on it. Not legal advice.