This form allows any Non-Operator, once each calendar year, to assume the position of Operator, proveded the Non-Operator owns a a mandated percent of the contract area. The Non-Operator shall be bound for one (1) year to operate at its proposed savings.
Arkansas Change of Operator refers to the process of transferring ownership or managerial control of an established business or operation in the state of Arkansas. It allows for a smooth transition from one operator to another, ensuring legal compliance and continuity of business operations. This change can occur due to various reasons such as retirement, selling the business, or a change in leadership. There are different types of Arkansas Change of Operator forms, each catering to specific scenarios. Some common ones include: 1. Arkansas Change of Operator Form for Corporations: This form is used when there is a change in the operator of a corporate entity. It requires detailed information about the old and new operators, including their names, addresses, and contact details. Additionally, it may include details about the business entity, such as its name, federal identification number, and registered agent. 2. Arkansas Change of Operator Form for Limited Liability Companies (LCS): LCS are popular business structures, and when the operator of an LLC changes, the Arkansas Change of Operator Form for LCS is used. This form typically asks for information about the existing and incoming operators, including their names, addresses, and roles within the company. It may also require details about the LLC, such as its name, registration number, and registered agent. 3. Arkansas Change of Operator Form for Sole Proprietorship: When a sole proprietorship changes its operator, the Arkansas Change of Operator Form for Sole Proprietorship is utilized. This form usually asks for information about the current and new operators, including their names, addresses, and contact information. It may also require a description of the business, its location, and any relevant licenses or permits held. Regardless of the specific form used, an Arkansas Change of Operator typically requires the signature of both the outgoing and incoming operators, as well as any necessary fees. It is essential to submit the form to the appropriate state agency, typically the Arkansas Secretary of State's office, within the designated timeframe to ensure a legally recognized change in operator. Failing to complete this process accurately and on time may lead to legal complications or the disruption of business activities. For more information on Arkansas Change of Operator forms, requirements, and filing procedures, interested individuals can refer to the official website of the Arkansas Secretary of State or seek professional legal advice.
