Arkansas LLC Operating Agreement (2026)

Single-member or multi-member operating agreement under your state's LLC act: ownership, management, capital, distributions, transfers and dissolution.

Updated September 2026≈ 9 minReviewed against Ark. Code § 4-38-101 et seq. · Ark. Code § 4-38-102 · Ark. Code § 26-54-104

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What you'll get

Sample first page of the LLC Operating Agreement. Your answers fill in the blanks; the clauses required in Arkansas are added automatically.

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What this document covers

Formation, name, purpose and registered agent
Tax classification (default, S corp, C corp)
Members, contributions and percentage interests
Capital accounts and additional contributions
Allocations, distributions and tax distributions
Member- or manager-managed; voting and major decisions
Duties, other activities and deadlock (50/50)
Liability and indemnification
Transfers, right of first refusal and buy-out events
Withdrawal, dissolution, Schedule A and spousal consent

Arkansas rules that this document follows

LLC statute	Arkansas Uniform Limited Liability Company Act (2021)Source: Ark. Code § 4-38-101 et seq.
Formation document / filing office	Certificate of Organization — Arkansas Secretary of State
Operating agreement required?	Not required by statute, but strongly recommended (may be oral; written is far safer)Source: Ark. Code § 4-38-102(13), § 4-38-105 (oral, implied, in a record, or any combination)
Formation fee	$45.00
Annual report	$150.00 — Annual franchise tax report due May 1Source: Ark. Code § 26-54-104 (flat $150 for LLCs)
State LLC / franchise tax	Annual franchise tax $150 (Ark. Code § 26-54-104)
Duty-of-loyalty waiver	May be limited only if not manifestly unreasonable; competing activities require disclosureSource: Ark. Code §§ 4-38-407 (each member equal rights; majority of members), 4-38-404 (equal shares), 4-38-503 (charging order; foreclosure permitted)
Charging order exclusive remedy (SMLLC)	unclearSource: Ark. Code §§ 4-38-407 (each member equal rights; majority of members), 4-38-404 (equal shares), 4-38-503 (charging order; foreclosure permitted)

Rules current as of 2026-10-27. Statutes change; verify before relying on them.

How to use this LLC Operating Agreement in Arkansas

Sign the agreement as soon as the LLC is formed and before opening the bank account. Fill Schedule A with actual contributions and percentages — they drive profits, votes and buy-outs. Multi-member LLCs should agree on the buy-out formula now, while everyone is friendly; two 50/50 members get an automatic deadlock clause.

If you elect S-corporation status, keep every distribution strictly pro rata — a single disproportionate distribution can terminate the election.

Review annually and whenever a member joins, leaves, marries, or the tax election changes. Keep it with the Certificate of Organization, EIN letter and annual report receipts.

Frequently asked questions

Is an operating agreement required in Arkansas?

Not by statute (Ark. Code § 4-38-102(13), § 4-38-105 (oral, implied, in a record, or any combination)). Banks, investors and courts expect a written agreement, and a single-member LLC without one is easier to pierce.

What are the ongoing state fees for an LLC in Arkansas?

Annual/periodic report: $150.00 (Annual franchise tax report due May 1; Ark. Code § 26-54-104 (flat $150 for LLCs)). Annual franchise tax $150 (Ark. Code § 26-54-104).

Does the operating agreement get filed with the state?

No. It is an internal document. Keep the signed original with the Company records; banks and the IRS may ask for a copy.

Why does it ask whether a member is married?

Arkansas is not a community-property state, so the question only drives the optional spousal-consent language; it is still wise to have spouses acknowledge the buy-out terms.

Other names

single member LLC operating agreement
multi-member operating agreement
LLC agreement
company agreement
LLC bylaws
limited liability company agreement
operating agreement template
member-managed LLC agreement

Other states

FormsByState provides self-help document templates and general information, not legal advice. We are not a law firm. For advice about your situation consult a licensed attorney in your state.