Section 404(d) of the Uniform Limited Liability Company Act provides:
Action requiring the consent of members or managers under this Act may be taken without a meeting.
Arkansas Unanimous Consent to Action By the Members of a Limited Liability Company, in Lieu of a Meeting, Ratifying Past Actions of Managing Member and/or Members is a legal provision that allows members of a limited liability company to ratify past actions taken by the managing member or other members without the need for a formal meeting. This provision is governed by the Arkansas Limited Liability Company Act. Under this provision, members can give their unanimous consent to an action taken in the past by the managing member or other members. This is done through a written consent, which is typically documented and signed by all members. The consent should provide a detailed description of the action being ratified, including the date it was taken and any relevant details. By using the Arkansas Unanimous Consent to Action, the LLC can ensure that any actions taken in the past, which may have required member approval, are properly ratified and legally binding. This can help to avoid any potential disputes or challenges to these actions. It is important to understand that this provision only applies when all members of the LLC provide their unanimous consent. If even one member does not agree to ratify the past action, then the consent is not valid and the action cannot be ratified in this manner. While the Arkansas Unanimous Consent to Action provision is a commonly used method for ratifying past actions, there may be other types of consent provisions available depending on the specific requirements of the LLC. These may include Unanimous Consent to Action in Writing Without a Meeting or Unanimous Consent to Action in a Meeting or One-Way Consent to Action. It is crucial for LLC members to consult legal experts to determine which type of consent provision is appropriate for their specific situation. In summary, the Arkansas Unanimous Consent to Action By the Members of a Limited Liability Company, in Lieu of a Meeting, Ratifying Past Actions of Managing Member and/or Members is a legal provision that allows LLC members to ratify past actions by providing unanimous written consent. This provision ensures that all actions taken in the past are properly authorized and legally binding.
