Arkansas § 4-47-801 - Nonjudicial dissolution.
Full text of Arkansas Arkansas Code of 1987 Annotated § 4-47-801 — Nonjudicial dissolution., with citation guidance and answers to common questions.
§ 4-47-801. Nonjudicial dissolution.
Except as otherwise provided in § 4-47-802 , a limited partnership is dissolved, and its activities must be wound up, only upon the occurrence of any of the following: the happening of an event specified in the partnership agreement; the consent of all general partners and of limited partners owning a majority of the rights to receive distributions as limited partners at the time the consent is to be effective; after the dissociation of a person as a general partner: if the limited partnership has at least one remaining general partner, the consent to dissolve the limited partnership given within 90 days after the dissociation by partners owning a majority of the rights to receive distributions as partners at the time the consent is to be effective; or if the limited partnership does not have a remaining general partner, the passage of 90 days after the dissociation, unless before the end of the period: consent to continue the activities of the limited partnership and admit at least one general partner is given by limited partners owning a majority of the rights to receive distributions as limited partners at the time the consent is to be effective; and at least one person is admitted as a general partner in accordance with the consent; the passage of 90 days after the dissociation of the limited partnership's last limited partner, unless before the end of the period the limited partnership admits at least one limited partner; or the signing and filing of a declaration of dissolution by the Secretary of State under § 4-47-809(c).
Frequently Asked Questions About Arkansas § 4-47-801
What does Arkansas Code of 1987 Annotated § 4-47-801 cover?
Section 4-47-801 ("Nonjudicial dissolution.") is part of the Arkansas Code of 1987 Annotated, the codified statutory law of Arkansas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arkansas § 4-47-801?
A common citation format is "Arkansas Code of 1987 Annotated § 4-47-801" (Arkansas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arkansas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arkansas official source linked on this page or consult a licensed Arkansas attorney.
How does Arkansas § 4-47-801 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arkansas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arkansas.