Section 404(d) of the Uniform Limited Liability Company Act (1996) provides: "Action requiring the consent of members or managers under this Act may be taken without a meeting." This is a form of resolution adopted by unanimous consent of the members of a limited liability rather than having a formal meeting.
Arkansas Unanimous Consent to Action By Sole Member of a Limited Liability Company, in Lieu of a Meeting, Accepting and Appointing a New Member is a legal process through which a sole member of an Arkansas LLC can accept and appoint a new member without conducting a formal meeting. This alternative method allows for quicker decision-making and eliminates the need for gathering all members physically or virtually. When a single member of an Arkansas LLC wants to accept and appoint a new member, they can utilize the "Unanimous Consent to Action" provision provided by the state's limited liability company laws. This provision enables the sole member to take action on behalf of the LLC without a formal meeting, as long as they secure the unanimous written consent or electronic consent of all other members that would have been required to approve such action in a meeting. In regard to accepting and appointing a new member, the process involves the following steps: 1. Decision by the Sole Member: The sole member of the Arkansas LLC must make a decision to accept and appoint a new member. This decision is typically based on the need for additional capital, expertise, or resources that the new member can bring to the company. 2. Drafting the Unanimous Consent: The sole member prepares the "Unanimous Consent to Action" document, specifying the acceptance and appointment of the new member. The document should include relevant details such as the names of the current and new members, effective date, and any additional rights or responsibilities being granted to the new member. 3. Obtaining Consent: The sole member sends the drafted Unanimous Consent document to all other members of the LLC for their consent. They can obtain these consents in writing, through physical or electronic means, ensuring that every member approves and signs the document. 4. Filing the Consent: Once all members have provided their unanimous consent, the sole member files the Unanimous Consent to Action document with the Arkansas Secretary of State office. This keeps an official record of the LLC's decision to accept and appoint a new member. It is important to note that while Arkansas law allows for this alternative procedure, there might be additional considerations depending on the LLC's operating agreement or any other governing documents. The effectiveness and legitimacy of this method may vary in different LCS depending on their specific requirements. Alternate types or variations of the Arkansas Unanimous Consent to Action By Sole Member of a Limited Liability Company could include decisions related to changing the LLC's structure, approving major business transactions, amending the operating agreement, adopting a new business strategy, or taking significant actions that require the consent of all members. These could potentially be executed using the same unanimous written or electronic consent process to streamline decision-making and avoid formal meetings.
