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88 chapters · 2,278 sections in this title.
Ark. Code Ann. § 4-47-1001 Direct action by partner
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(a) Subject to subsection (b), a partner may maintain a direct action against the limited partnership or another partner for legal or equitable relief, with or without an accounting as to the partnership's activities, to enforce the rights and otherwise protect the interests of t…
Ark. Code Ann. § 4-47-1002 Derivative action
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(1) A partner may maintain a derivative action to enforce a right of a limited partnership if:(1) the partner first makes a demand on the general partners, requesting that they cause the limited partnership to bring an action to enforce the right, and the general partners do not …
Ark. Code Ann. § 4-47-1003 Proper plaintiff
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(1) A derivative action may be maintained only by a person that is a partner at the time the action is commenced and:(1) that was a partner when the conduct giving rise to the action occurred; or(2) whose status as a partner devolved upon the person by operation of law or pursuan…
Ark. Code Ann. § 4-47-1004 Pleading
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(1) In a derivative action, the complaint must state with particularity:(1) the date and content of plaintiff's demand and the general partners' response to the demand; or(2) why demand should be excused as futile. (1) the date and content of plaintiff's demand and the general pa…