(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.
Nature, purpose, and duration of limited liability company
Ark. Code Ann. § 4-38-108, under Uniform Limited Liability Company Act.
Ark. Code Ann. § 4-38-108