Arkansas Code Title 4. Business and Commercial Law § 4-46-912. Power of partners and persons dissociated as partners to bind organization after conversion or merger

(1) Before the conversion or merger became effective the act would have bound the converting or constituent partnership under § 4-46-301; and

(2) At the time the third party enters into the transaction the third party:

(1) Before the conversion or merger became effective the act would have bound the converting or constituent partnership under § 4-46-301 if the person had been a partner; and

(2) At the time the third party enters into the transaction, less than two (2) years have passed since the person dissociated as a general partner and the third party:

(1) To the converted or surviving organization for any damage caused to the organization arising from the obligation; and

(2) If another person is liable for the obligation, to the other person for any damage caused to the other person arising from the liability.