Arkansas § 4-37-105 - Governing law.

§ 4-37-105. Governing law.

The law of this state governs: the internal affairs of a protected series of a series limited liability company, including: relations among any associated members of the protected series; relations among the protected series and: any associated member; the protected-series manager; or any protected-series transferee; relations between any associated member and: the protected-series manager: or any protected-series transferee; the rights and duties of a protected-series manager; governance decisions affecting the activities and affairs of the protected series and the conduct of those activities and affairs; and procedures and conditions for becoming an associated member or protected-series transferee; the relations between a protected series of a series limited liability company and each of the following: the company; another protected series of the company; a member of the company which is not an associated member of the protected series; a protected-series manager that is not a protected-series manager of the protected series; and a protected-series transferee that is not a protected-series transferee of the protected series; the liability of a person for a debt, obligation, or other liability of a protected series of a series limited liability company if the debt, obligation, or liability is asserted solely by reason of the person being or acting as: an associated member, protected-series transferee, or protected-series manager of the protected series; a member of the company which is not an associated member of the protected series; a protected-series manager that is not a protected-series manager of the protected series; a protected-series transferee that is not a protected-series transferee of the protected series; a manager of the company; or a transferee of a transferable interest of the company; the liability of a series limited liability company for a debt, obligation, or other liability of a protected series of the company if the debt, obligation, or liability is asserted solely by reason of the company: having delivered to the Secretary of State for filing under § 4-37-201(b) a protected series designation pertaining to the protected series or under § 4-37-201(d) or § 4-37-202(c) a statement of designation change pertaining to the protected series; being or acting as a protected-series manager of the protected series; having the protected series be or act as a manager of the company; or owning a protected-series transferable interest of the protected series; and the liability of a protected series of a series limited liability company for a debt, obligation, or other liability of the company or of another protected series of the company if the debt, obligation, or liability is asserted solely by reason of: the protected series: being a protected series of the company or having as a protected-series manager the company or another protected series of the company; or being or acting as a protected-series manager of another protected series of the company or a manager of the company; or the company owning a protected-series transferable interest of the protected series.