(a) Property transferred to or otherwise acquired by a limited liability company is property of the limited liability company and not of the members individually.
(b) Property may be acquired, held, and conveyed in the name of the limited liability company. Any interest in real property may be acquired in the name of the limited liability company, and title to any interest so acquired shall vest in the limited liability company rather than in the members individually.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 3 - Corporations and Associations
Chapter 32 - Small Business Entity Tax Pass Through Act
Subchapter 7 - Ownership and Transfer of Property
§ 4-32-701. Ownership of limited liability company property
§ 4-32-702. Transfer of real property
§ 4-32-703. Nature of limited liability company interest
§ 4-32-704. Assignment of interest
§ 4-32-705. Rights of judgment creditor
§ 4-32-706. Right of assignee to become member
§ 4-32-707. Powers of estate of deceased or incompetent member