Statutes > Arkansas Statutes > 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.

§ 4-32-701 - Ownership of limited liability company property.

4-32-701. Ownership of limited liability company property.

(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.