Knowledge — Notice

Ark. Code Ann. § 4-38-103, under Uniform Limited Liability Company Act.

Ark. Code Ann. § 4-38-103

(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.