Ark. Code Ann. § 4-90-804 — AR Code / Title 4 / Chapter 90 / Subchapter 8 / Section 4-90-804
Contractual liability or other insurance policies
Status: in_force

(a) A contractual liability policy or other insurance policy insuring a guaranteed asset protection waiver shall state the obligation of the insurer to reimburse or pay to the creditor any sums the creditor is legally obligated to waive under the guaranteed asset protection waiver issued by the creditor and purchased or held by the borrower. (b) Coverage under a contractual liability or other insurance policy insuring a guaranteed asset protection waiver shall also cover any subsequent assignee upon the assignment, sale, or transfer of the finance agreement. (c) Coverage under a contractual liability or other insurance policy insuring a guaranteed asset protection waiver shall remain in effect unless canceled or terminated in compliance with the applicable insurance laws of this state. (d) The cancellation or termination of a contractual liability or other insurance policy shall not reduce the insurer's responsibility for guaranteed asset protection waivers issued by the creditor before the date of cancellation or termination and for which a premium has been received by the insurer. Added by Act 2019, No. 787,§ 1, eff. 7/24/2019.

(a) A contractual liability policy or other insurance policy insuring a guaranteed asset protection waiver shall state the obligation of the insurer to reimburse or pay to the creditor any sums the creditor is legally obligated to waive under the guaranteed asset protection waiver issued by the creditor and purchased or held by the borrower.

(b) Coverage under a contractual liability or other insurance policy insuring a guaranteed asset protection waiver shall also cover any subsequent assignee upon the assignment, sale, or transfer of the finance agreement.

(c) Coverage under a contractual liability or other insurance policy insuring a guaranteed asset protection waiver shall remain in effect unless canceled or terminated in compliance with the applicable insurance laws of this state.

(d) The cancellation or termination of a contractual liability or other insurance policy shall not reduce the insurer's responsibility for guaranteed asset protection waivers issued by the creditor before the date of cancellation or termination and for which a premium has been received by the insurer.

Added by Act 2019, No. 787,§ 1, eff. 7/24/2019.
Ark. Code Ann. § 4-75-405 — AR Code / Title 4 / Chapter 75 / Subchapter 4 / Section 4-75-405
Forfeiture of charter rights, etc., and dissolution for violations - Proceedings
Status: in_force

For a violation of any of the provisions of this subchapter by any corporation or association mentioned in this subchapter, it shall be the duty of the Attorney General or the prosecuting attorney of the proper county to institute proper suits or quo warranto proceedings in any court of competent jurisdiction for the forfeiture of its charter rights, franchises, or privileges and powers exercised by the corporation or association, and for the dissolution of the corporation or association under the general statutes of this state. Acts 1937, No. 205, § 7; Pope's Dig., § 9425; A.S.A. 1947, § 70-136.

For a violation of any of the provisions of this subchapter by any corporation or association mentioned in this subchapter, it shall be the duty of the Attorney General or the prosecuting attorney of the proper county to institute proper suits or quo warranto proceedings in any court of competent jurisdiction for the forfeiture of its charter rights, franchises, or privileges and powers exercised by the corporation or association, and for the dissolution of the corporation or association under the general statutes of this state.

Acts 1937, No. 205, § 7; Pope's Dig., § 9425; A.S.A. 1947, § 70-136.
Ark. Code Ann. § 4-75-302 — AR Code / Title 4 / Chapter 75 / Subchapter 3 / Section 4-75-302
Monopolies unlawful
Status: in_force

A monopoly, as defined in § 4-75-301 , is declared to be unlawful and against public policy, and any and all persons, firms, corporations, or association of persons engaged therein shall be deemed and adjudged to be guilty of a conspiracy to defraud and shall be subject to the penalties prescribed in this subchapter. Acts 1905, No. 1, § 5, p. 1; C. & M. Dig., § 7373; Pope's Dig., § 9412; A.S.A. 1947, § 70-105.

A monopoly, as defined in § 4-75-301 , is declared to be unlawful and against public policy, and any and all persons, firms, corporations, or association of persons engaged therein shall be deemed and adjudged to be guilty of a conspiracy to defraud and shall be subject to the penalties prescribed in this subchapter.

Acts 1905, No. 1, § 5, p. 1; C. & M. Dig., § 7373; Pope's Dig., § 9412; A.S.A. 1947, § 70-105.
Ark. Code Ann. § 4-72-308 — AR Code / Title 4 / Chapter 72 / Subchapter 3 / Section 4-72-308
Title and possession of inventory
Status: in_force

Upon payment of the repurchase amount to the retailer, the title and right of possession to the repurchased inventory shall transfer to the wholesaler, manufacturer, or distributor. Acts 1979, No. 810, § 4; A.S.A. 1947, § 70-822.

Upon payment of the repurchase amount to the retailer, the title and right of possession to the repurchased inventory shall transfer to the wholesaler, manufacturer, or distributor.

Acts 1979, No. 810, § 4; A.S.A. 1947, § 70-822.
Ark. Code Ann. § 4-27-206 — AR Code / Title 4 / Chapter 27 / Subchapter 2 / Section 4-27-206
Bylaws
Status: in_force

(a) The incorporators or board of directors of a corporation shall adopt initial bylaws for the corporation. (b) The bylaws of a corporation may contain any provision for managing the business and regulating the affairs of the corporation that is not inconsistent with law or the articles of incorporation. Acts 1987, No. 958, § 64-206.

(a) The incorporators or board of directors of a corporation shall adopt initial bylaws for the corporation.

(b) The bylaws of a corporation may contain any provision for managing the business and regulating the affairs of the corporation that is not inconsistent with law or the articles of incorporation.

Acts 1987, No. 958, § 64-206.
Ark. Code Ann. § 4-26-804 — AR Code / Title 4 / Chapter 26 / Subchapter 8 / Section 4-26-804
Removal of directors
Status: in_force

(a) (1) At a shareholders' meeting called expressly for that purpose, directors may be removed in the manner provided in this section. (2) The entire board of directors or any one (1) or more of the directors may be removed, with or without cause, by a vote of the holders of a majority of the shares then entitled to vote at an election of directors. (3) If less than the entire board is to be removed, no one of the directors may be removed if the votes cast against his or her removal would be sufficient to elect him or her if then cumulatively voted at an election of the entire board of directors. (b) Whenever the holders of the shares of any class are entitled to elect one (1) or more directors by the provisions of the articles of incorporation, the provisions of this section shall apply, in respect to the removal of a director or directors so elected, to the vote of the holders of the outstanding shares of that class and not to the vote of the outstanding shares as a whole. (c) When a director shall be removed, the resulting vacancy shall be filled by the shareholders and may be filled at the same shareholders' meeting at which the vacancy is created or at a subsequent meeting. Acts 1965, No. 576, § 39; A.S.A. 1947, § 64-304.

(a) (1) At a shareholders' meeting called expressly for that purpose, directors may be removed in the manner provided in this section. (2) The entire board of directors or any one (1) or more of the directors may be removed, with or without cause, by a vote of the holders of a majority of the shares then entitled to vote at an election of directors. (3) If less than the entire board is to be removed, no one of the directors may be removed if the votes cast against his or her removal would be sufficient to elect him or her if then cumulatively voted at an election of the entire board of directors.

(1) At a shareholders' meeting called expressly for that purpose, directors may be removed in the manner provided in this section.

(2) The entire board of directors or any one (1) or more of the directors may be removed, with or without cause, by a vote of the holders of a majority of the shares then entitled to vote at an election of directors.

(3) If less than the entire board is to be removed, no one of the directors may be removed if the votes cast against his or her removal would be sufficient to elect him or her if then cumulatively voted at an election of the entire board of directors.

(b) Whenever the holders of the shares of any class are entitled to elect one (1) or more directors by the provisions of the articles of incorporation, the provisions of this section shall apply, in respect to the removal of a director or directors so elected, to the vote of the holders of the outstanding shares of that class and not to the vote of the outstanding shares as a whole.

(c) When a director shall be removed, the resulting vacancy shall be filled by the shareholders and may be filled at the same shareholders' meeting at which the vacancy is created or at a subsequent meeting.

Acts 1965, No. 576, § 39; A.S.A. 1947, § 64-304.
Ark. Code Ann. § 4-75-1404 — AR Code / Title 4 / Chapter 75 / Subchapter 14 / Section 4-75-1404
Remedies
Status: in_force

(a) A food facility may bring a civil action to enjoin a violation of this subchapter. (b) (1) If a court finds that a food delivery platform has acted in violation of this subchapter, the court shall issue an injunction. (2) In addition to the remedy in subdivision (b)(1) of this section, the court may: (A) Require the violator to pay to the injured party all profits derived from or damages resulting from the wrongful act; and (B) Order that the wrongful act be terminated. (c) If the court finds that the food delivery platform committed the wrongful act in bad faith by not obtaining an agreement or written consent, the court shall: (1) Enter judgment against the food delivery platform as follows: (A) For a first violation, a fine of not less than five hundred dollars ($500); (B) For a second violation, a fine of not less than one thousand dollars ($1,000); and (C) For a third or subsequent violation, a fine of not less than one thousand five hundred dollars ($1,500); and (2) Award reasonable attorney's fees to the food facility. (d) The Attorney General or any prosecuting attorney of the state may bring an action against the food delivery platform for a violation of this subchapter. Added by Act 2021, No. 969,§ 1, eff. 1/1/2022.

(a) A food facility may bring a civil action to enjoin a violation of this subchapter.

(b) (1) If a court finds that a food delivery platform has acted in violation of this subchapter, the court shall issue an injunction. (2) In addition to the remedy in subdivision (b)(1) of this section, the court may: (A) Require the violator to pay to the injured party all profits derived from or damages resulting from the wrongful act; and (B) Order that the wrongful act be terminated.

(1) If a court finds that a food delivery platform has acted in violation of this subchapter, the court shall issue an injunction.

(2) In addition to the remedy in subdivision (b)(1) of this section, the court may: (A) Require the violator to pay to the injured party all profits derived from or damages resulting from the wrongful act; and (B) Order that the wrongful act be terminated.

(A) Require the violator to pay to the injured party all profits derived from or damages resulting from the wrongful act; and

(B) Order that the wrongful act be terminated.

(c) If the court finds that the food delivery platform committed the wrongful act in bad faith by not obtaining an agreement or written consent, the court shall: (1) Enter judgment against the food delivery platform as follows: (A) For a first violation, a fine of not less than five hundred dollars ($500); (B) For a second violation, a fine of not less than one thousand dollars ($1,000); and (C) For a third or subsequent violation, a fine of not less than one thousand five hundred dollars ($1,500); and (2) Award reasonable attorney's fees to the food facility.

(1) Enter judgment against the food delivery platform as follows: (A) For a first violation, a fine of not less than five hundred dollars ($500); (B) For a second violation, a fine of not less than one thousand dollars ($1,000); and (C) For a third or subsequent violation, a fine of not less than one thousand five hundred dollars ($1,500); and

(A) For a first violation, a fine of not less than five hundred dollars ($500);

(B) For a second violation, a fine of not less than one thousand dollars ($1,000); and

(C) For a third or subsequent violation, a fine of not less than one thousand five hundred dollars ($1,500); and

(2) Award reasonable attorney's fees to the food facility.

(d) The Attorney General or any prosecuting attorney of the state may bring an action against the food delivery platform for a violation of this subchapter.

Added by Act 2021, No. 969,§ 1, eff. 1/1/2022.
Ark. Code Ann. § 4-35-111 — AR Code / Title 4 / Chapter 35 / Subchapter 1 / Section 4-35-111
Dissolution
Status: in_force

(a) (1) A water authority shall be dissolved upon the expiration of its term of existence as set forth in the water authority's articles if the term of existence is less than perpetual in nature. (2) Upon the dissolution, a notice shall be filed with both the Arkansas Natural Resources Commission and the Secretary of State. (b) (1) A water authority may also be dissolved upon filing articles of dissolution with the approval in writing by the commission. (2) If approved by the commission, articles of dissolution shall also be filed with the Secretary of State. (c) Upon dissolution, any assets of a water authority remaining after payment of claims and liabilities of the water authority shall be transferred to another water authority with approval of the commission or to the State of Arkansas or a subdivision of the state, including the commission. Acts 2003, No. 1330, § 3.

(a) (1) A water authority shall be dissolved upon the expiration of its term of existence as set forth in the water authority's articles if the term of existence is less than perpetual in nature. (2) Upon the dissolution, a notice shall be filed with both the Arkansas Natural Resources Commission and the Secretary of State.

(1) A water authority shall be dissolved upon the expiration of its term of existence as set forth in the water authority's articles if the term of existence is less than perpetual in nature.

(2) Upon the dissolution, a notice shall be filed with both the Arkansas Natural Resources Commission and the Secretary of State.

(b) (1) A water authority may also be dissolved upon filing articles of dissolution with the approval in writing by the commission. (2) If approved by the commission, articles of dissolution shall also be filed with the Secretary of State.

(1) A water authority may also be dissolved upon filing articles of dissolution with the approval in writing by the commission.

(2) If approved by the commission, articles of dissolution shall also be filed with the Secretary of State.

(c) Upon dissolution, any assets of a water authority remaining after payment of claims and liabilities of the water authority shall be transferred to another water authority with approval of the commission or to the State of Arkansas or a subdivision of the state, including the commission.

Acts 2003, No. 1330, § 3.
Ark. Code Ann. § 4-27-1111 — AR Code / Title 4 / Chapter 27 / Subchapter 11 / Section 4-27-1111
Chapter not exclusive
Status: in_force

This chapter does not preclude an organization from being converted or merged under other law. Acts 2009, No. 408, § 2.

This chapter does not preclude an organization from being converted or merged under other law.

Acts 2009, No. 408, § 2.
Ark. Code Ann. § 4-37-602 — AR Code / Title 4 / Chapter 37 / Subchapter 6 / Section 4-37-602
Protected series may not be party to entity transaction
Status: in_force

A protected series may not: (1) be an acquiring, acquired, converting, converted, merging, or surviving entity; (2) participate in a domestication; or (3) be a party to or be formed, organized, established, or created in a transaction substantially like a merger, interest exchange, conversion, or domestication. Added by Act 2019, No. 665,§ 1, eff. 7/24/2019.

A protected series may not:

(1) be an acquiring, acquired, converting, converted, merging, or surviving entity;

(2) participate in a domestication; or

(3) be a party to or be formed, organized, established, or created in a transaction substantially like a merger, interest exchange, conversion, or domestication.

Added by Act 2019, No. 665,§ 1, eff. 7/24/2019.
Ark. Code Ann. § 4-47-203 — AR Code / Title 4 / Chapter 47 / Subchapter 2 / Section 4-47-203
Statement of termination
Status: in_force

A dissolved limited partnership that has completed winding up may deliver to the Secretary of State for filing a statement of termination that states: (1) the name of the limited partnership; (2) the date of filing of its initial certificate of limited partnership; and (3) any other information as determined by the general partners filing the statement or by a person appointed pursuant to § 4-47-803(c) or (d) . Acts 2007, No. 15, § 1.

A dissolved limited partnership that has completed winding up may deliver to the Secretary of State for filing a statement of termination that states:

(1) the name of the limited partnership;

(2) the date of filing of its initial certificate of limited partnership; and

(3) any other information as determined by the general partners filing the statement or by a person appointed pursuant to § 4-47-803(c) or (d) .

Acts 2007, No. 15, § 1.
Ark. Code Ann. § 4-28-301 — AR Code / Title 4 / Chapter 28 / Subchapter 3 / Section 4-28-301
Definition
Status: in_force

As used in this subchapter, the terms "corporation", "foreign corporation", "not-for-profit corporation", and "board of directors" shall have the same meaning as stated in the definition of those terms in § 4-28-202 . Acts 1983, No. 614, § 9; A.S.A. 1947, § 64-1933.

As used in this subchapter, the terms "corporation", "foreign corporation", "not-for-profit corporation", and "board of directors" shall have the same meaning as stated in the definition of those terms in § 4-28-202 .

Acts 1983, No. 614, § 9; A.S.A. 1947, § 64-1933.
Ark. Code Ann. § 4-26-609 — AR Code / Title 4 / Chapter 26 / Subchapter 6 / Section 4-26-609
Issuance of fractional shares or scrip
Status: in_force

(a) A corporation may, but shall not be obliged to, issue a certificate for a fractional share and, by action of its board of directors, may issue, in lieu thereof, a scrip in registered or bearer form which shall entitle the holder to receive a certificate for a full share upon the surrender of such scrip aggregating a full share. (b) A certificate for a fractional share shall, but scrip shall not unless otherwise provided therein, entitle the holder to exercise voting rights, to receive dividends thereon, and to participate in any of the assets of the corporation in the event of liquidation. (c) The board of directors may cause such scrip to be issued subject to the condition that it shall become void if not tendered to be exchanged for certificates representing full shares before a specified date, or subject to the condition that the shares for which the scrip is exchangeable may be sold by the corporation and the proceeds thereof distributed to the holders of the scrip, or subject to any other conditions which the board of directors may deem advisable. Acts 1965, No. 576, § 24; A.S.A. 1947, § 64-209.

(a) A corporation may, but shall not be obliged to, issue a certificate for a fractional share and, by action of its board of directors, may issue, in lieu thereof, a scrip in registered or bearer form which shall entitle the holder to receive a certificate for a full share upon the surrender of such scrip aggregating a full share.

(b) A certificate for a fractional share shall, but scrip shall not unless otherwise provided therein, entitle the holder to exercise voting rights, to receive dividends thereon, and to participate in any of the assets of the corporation in the event of liquidation.

(c) The board of directors may cause such scrip to be issued subject to the condition that it shall become void if not tendered to be exchanged for certificates representing full shares before a specified date, or subject to the condition that the shares for which the scrip is exchangeable may be sold by the corporation and the proceeds thereof distributed to the holders of the scrip, or subject to any other conditions which the board of directors may deem advisable.

Acts 1965, No. 576, § 24; A.S.A. 1947, § 64-209.
Ark. Code Ann. § 4-104-202 — AR Code / Title 4 / Chapter 104 / Subchapter 2 / Section 4-104-202
Face-to-face solicitations
Status: in_force

(a) (1) It is unlawful to: (A) Solicit any person to apply for a credit card in an academic building and within one hundred feet (100') of an academic building on the campus of an institution of higher education; or (B) Offer gifts or any other promotional incentives to any person under twenty-one (21) years of age through direct face-to-face contact in order to entice the person to apply for a credit card. (2) Prior to any personal solicitation of credit card applications on the campus of an institution of higher education in which gifts or any other promotional incentives are being offered, the credit card issuer shall verify the identity and age of the person to be solicited by the review of a valid driver's license or other credible means of identification bearing a photograph of the person. (3) This subsection shall not apply to the solicitation of a credit card application by a bank or credit union located on the campus if the solicitation is made within its office. (b) It is unlawful to issue a credit card to any individual whose application for credit is obtained as a result of actions prohibited by this subchapter. Acts 1999, No. 1328, § 2; 2005, No. 1430, § 1.

(a) (1) It is unlawful to: (A) Solicit any person to apply for a credit card in an academic building and within one hundred feet (100') of an academic building on the campus of an institution of higher education; or (B) Offer gifts or any other promotional incentives to any person under twenty-one (21) years of age through direct face-to-face contact in order to entice the person to apply for a credit card. (2) Prior to any personal solicitation of credit card applications on the campus of an institution of higher education in which gifts or any other promotional incentives are being offered, the credit card issuer shall verify the identity and age of the person to be solicited by the review of a valid driver's license or other credible means of identification bearing a photograph of the person. (3) This subsection shall not apply to the solicitation of a credit card application by a bank or credit union located on the campus if the solicitation is made within its office.

(1) It is unlawful to: (A) Solicit any person to apply for a credit card in an academic building and within one hundred feet (100') of an academic building on the campus of an institution of higher education; or (B) Offer gifts or any other promotional incentives to any person under twenty-one (21) years of age through direct face-to-face contact in order to entice the person to apply for a credit card.

(A) Solicit any person to apply for a credit card in an academic building and within one hundred feet (100') of an academic building on the campus of an institution of higher education; or

(B) Offer gifts or any other promotional incentives to any person under twenty-one (21) years of age through direct face-to-face contact in order to entice the person to apply for a credit card.

(2) Prior to any personal solicitation of credit card applications on the campus of an institution of higher education in which gifts or any other promotional incentives are being offered, the credit card issuer shall verify the identity and age of the person to be solicited by the review of a valid driver's license or other credible means of identification bearing a photograph of the person.

(3) This subsection shall not apply to the solicitation of a credit card application by a bank or credit union located on the campus if the solicitation is made within its office.

(b) It is unlawful to issue a credit card to any individual whose application for credit is obtained as a result of actions prohibited by this subchapter.

Acts 1999, No. 1328, § 2; 2005, No. 1430, § 1.
Ark. Code Ann. § 4-75-606 — AR Code / Title 4 / Chapter 75 / Subchapter 6 / Section 4-75-606
Damages
Status: in_force

(a) In addition to or in lieu of injunctive relief, a complainant may recover damages for the actual loss caused by misappropriation. (b) A complainant also may recover for the unjust enrichment caused by misappropriation that is not taken into account in computing damages for actual loss. Acts 1981, No. 439, § 3; A.S.A. 1947, § 70-1003.

(a) In addition to or in lieu of injunctive relief, a complainant may recover damages for the actual loss caused by misappropriation.

(b) A complainant also may recover for the unjust enrichment caused by misappropriation that is not taken into account in computing damages for actual loss.

Acts 1981, No. 439, § 3; A.S.A. 1947, § 70-1003.
Ark. Code Ann. § 4-30-116 — AR Code / Title 4 / Chapter 30 / Subchapter 1 / Section 4-30-116
Organization, ownership, control, etc., of other corporations or associations
Status: in_force

An association organized or existing hereunder may organize, form, operate, own, control, have an interest in, own stock of, or be a member of any corporation or association, with or without capital stock, engaged in any of the activities authorized under this chapter, whether formed under this or any other act of this or any other state. This chapter permits the federation of cooperative business enterprise in Arkansas. Acts 1921, No. 632, § 14; Pope's Dig., § 2275; A.S.A. 1947, § 64-1515; Acts 1989, No. 493, § 4.

An association organized or existing hereunder may organize, form, operate, own, control, have an interest in, own stock of, or be a member of any corporation or association, with or without capital stock, engaged in any of the activities authorized under this chapter, whether formed under this or any other act of this or any other state. This chapter permits the federation of cooperative business enterprise in Arkansas.

Acts 1921, No. 632, § 14; Pope's Dig., § 2275; A.S.A. 1947, § 64-1515; Acts 1989, No. 493, § 4.
Ark. Code Ann. § 4-28-202 — AR Code / Title 4 / Chapter 28 / Subchapter 2 / Section 4-28-202
Definitions
Status: in_force

As used in §§ 4-28-201 - 4-28-206 and 4-28-209 - 4-28-224 , unless the context otherwise requires: (1) "Board of directors" means the group of persons vested with the management of the affairs of the corporation; (2) "Corporation" means a domestic corporation not for profit subject to the provisions of §§ 4-28-201 - 4-28-206 and 4-28-209 - 4-28-224 ; (3) "Foreign corporation" means a corporation not for profit organized under laws other than the laws of this state; and (4) "Not-for-profit corporation" means a corporation no part of the income of which is distributable to its members, directors, or officers. Sections 4-28-201 - 4-28-206 and 4-28-209 - 4-28-224 shall apply only to corporations organized under the laws of this state authorizing organization of nonprofit corporations. Acts 1963, No. 176, § 2; A.S.A. 1947, § 64-1902.

As used in §§ 4-28-201 - 4-28-206 and 4-28-209 - 4-28-224 , unless the context otherwise requires:

(1) "Board of directors" means the group of persons vested with the management of the affairs of the corporation;

(2) "Corporation" means a domestic corporation not for profit subject to the provisions of §§ 4-28-201 - 4-28-206 and 4-28-209 - 4-28-224 ;

(3) "Foreign corporation" means a corporation not for profit organized under laws other than the laws of this state; and

(4) "Not-for-profit corporation" means a corporation no part of the income of which is distributable to its members, directors, or officers. Sections 4-28-201 - 4-28-206 and 4-28-209 - 4-28-224 shall apply only to corporations organized under the laws of this state authorizing organization of nonprofit corporations.

Acts 1963, No. 176, § 2; A.S.A. 1947, § 64-1902.
Ark. Code Ann. § 4-26-707 — AR Code / Title 4 / Chapter 26 / Subchapter 7 / Section 4-26-707
Class voting
Status: in_force

(a) In each instance where, under § 4-26-302(a)(4) , § 4-26-303 , § 4-26-611(e) , § 4-26-705(a)(2) , § 4-26-903(a)(3)(B) , § 4-26-1007(e) and (f) , or § 4-26-1101 , a provision is made for the class voting of stock, thus requiring the votes of a certain percentage of each separate class of shares to authorize some specific corporate action, each class of shares to which a requirement of class voting is applicable shall be bound by the votes which are cast in person or by proxy of at least two-thirds (2/3) of those members of such class who are present in person or represented at the meeting by proxy if due and timely notice of the meeting has been given to all members of said class and at least fifty percent (50%) of the shares embraced in the class are present in person or by proxy. (b) The certificate to articles of amendment under § 4-26-304 , articles of merger or consolidation under § 4-26-1009 , and articles of dissolution under § 4-26-1102 shall, in all situations to which this section applies, be amended and adjusted to show the manner in which the requirements of this section were met in respect to class voting. (c) This section shall apply only to corporations having five hundred (500) or more shareholders. Acts 1971, No. 345, §§ 1-3; A.S.A. 1947, §§ 64-225 -- 64-227; Acts 2009, No. 408, § 8.

(a) In each instance where, under § 4-26-302(a)(4) , § 4-26-303 , § 4-26-611(e) , § 4-26-705(a)(2) , § 4-26-903(a)(3)(B) , § 4-26-1007(e) and (f) , or § 4-26-1101 , a provision is made for the class voting of stock, thus requiring the votes of a certain percentage of each separate class of shares to authorize some specific corporate action, each class of shares to which a requirement of class voting is applicable shall be bound by the votes which are cast in person or by proxy of at least two-thirds (2/3) of those members of such class who are present in person or represented at the meeting by proxy if due and timely notice of the meeting has been given to all members of said class and at least fifty percent (50%) of the shares embraced in the class are present in person or by proxy.

(b) The certificate to articles of amendment under § 4-26-304 , articles of merger or consolidation under § 4-26-1009 , and articles of dissolution under § 4-26-1102 shall, in all situations to which this section applies, be amended and adjusted to show the manner in which the requirements of this section were met in respect to class voting.

(c) This section shall apply only to corporations having five hundred (500) or more shareholders.

Acts 1971, No. 345, §§ 1-3; A.S.A. 1947, §§ 64-225 -- 64-227; Acts 2009, No. 408, § 8.
Ark. Code Ann. § 4-75-320 — AR Code / Title 4 / Chapter 75 / Subchapter 3 / Section 4-75-320
Statute of limitations
Status: in_force

(a) Any action brought by the Attorney General pursuant to this subchapter is barred if it is not commenced within five (5) years after the cause of action accrues. (b) The foregoing statute of limitations shall be tolled during any period when the defendant in any action fraudulently conceals the events upon which the cause of action is based. (c) This section is not intended to allow for the commencement of any action by the Attorney General under the provisions of this subchapter for events occurring prior to the enactment of this section of which the Attorney General had actual knowledge. Acts 2003, No. 1172, § 1.

(a) Any action brought by the Attorney General pursuant to this subchapter is barred if it is not commenced within five (5) years after the cause of action accrues.

(b) The foregoing statute of limitations shall be tolled during any period when the defendant in any action fraudulently conceals the events upon which the cause of action is based.

(c) This section is not intended to allow for the commencement of any action by the Attorney General under the provisions of this subchapter for events occurring prior to the enactment of this section of which the Attorney General had actual knowledge.

Acts 2003, No. 1172, § 1.