(a) If, before January 1, 2012, an interest in property was by terms of a transfer purportedly transferred to an unincorporated nonprofit association but under the law of this state the interest did not vest in the association, or in one or more persons on behalf of his or her association under subsection (b) on January 1, 2012, the interest vests in the association, unless the parties to the transfer have treated the transfer as ineffective.
(b) If before January 1, 2012, an interest in property was by terms of a transfer purportedly transferred to an unincorporated nonprofit association but the interest was vested in one or more persons to hold the interest for members of the association, on or after January 1, 2012, the persons, or their successors in interest, may transfer the interest to the association in its name, or the association may require the interest be transferred to it in its name.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 3 - Corporations and Associations
Chapter 28 - Nonprofit Organizations
Subchapter 6 - Revised Uniform Unincorporated Nonprofit Association Act
§ 4-28-603. Relation to other law
§ 4-28-605. Legal entity; Perpetual existence; Powers
§ 4-28-606. Ownership and transfer of property
§ 4-28-607. Statement of authority as to real property
§ 4-28-609. Assertion and defense of claims
§ 4-28-610. Effect of judgment or order
§ 4-28-611. Appointment of agent to receive service of process
§ 4-28-612. Service of process
§ 4-28-613. Action or proceeding not abated by change
§ 4-28-616. Approval by members
§ 4-28-617. Meetings of members; Voting, notice, and quorum requirements
§ 4-28-619. Admission, suspension, dismissal, or expulsion of members
§ 4-28-620. Member's resignation
§ 4-28-621. Membership interest not transferable
§ 4-28-622. Selection of managers; Management rights of managers
§ 4-28-623. Duties of managers
§ 4-28-624. Notice and quorum requirements for meetings of managers
§ 4-28-625. Right of member or manager to information
§ 4-28-626. Distributions prohibited; Compensation and other permitted payments
§ 4-28-627. Reimbursement; Indemnification; Advancement of expenses
§ 4-28-629. Winding up and termination
§ 4-28-631. Transition concerning real and personal property
§ 4-28-632. Uniformity of application and construction
§ 4-28-633. Relation to Electronic Signatures in Global and National Commerce Act