(a) Unless otherwise provided in writing in an operating agreement, a plan of conversion must be consented to by more than one-half (½) by number of the members of a converting limited liability company.
(b) Subject to any contractual rights, until a conversion is filed under § 4-32-1204, a converting limited liability company may amend the plan or abandon the planned conversion:
(1) As provided in the plan; and
(2) Except as prohibited by the plan, by the same consent required to approve the plan.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 3 - Corporations and Associations
Chapter 32 - Small Business Entity Tax Pass Through Act
Subchapter 12 - Conversion and Merger
§ 4-32-1203. Action on plan of conversion by converting limited liability company
§ 4-32-1204. Filings required for conversion — Effective date
§ 4-32-1205. Effect of conversion
§ 4-32-1207. Action on plan of merger by constituent limited liability company