reglab/housing_qa huggingface dataset:
AR Code § 4-30-104 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 30 - Cooperative Associations|Subchapter 1 - General Provisions|§ 4-30-104. Acceptance of benefits of chapter

 (a) All cooperative corporations, companies, or associations organized and doing business under prior statutes, or which have attempted to so organize and do business, shall have the benefit of all the provisions of this chapter and may be bound thereby on paying the fees provided for in this chapter and filing with the Secretary of State a written declaration signed and sworn to by its president and secretary, to the effect that the cooperative company or association has by a majority vote of its stockholders decided to accept the benefits of and be bound by the provisions of this chapter.  (b) No association organized under this chapter shall be required to do or perform anything not specifically required herein in order to become a corporation or to continue its business as such.
AR Code § 4-30-105 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 30 - Cooperative Associations|Subchapter 1 - General Provisions|§ 4-30-105. Administration of chapter

 The provisions of this chapter shall be administered by the Secretary of State, who shall have power to employ such help as in his or her judgment is necessary to carry into effect the provisions of this chapter.
AR Code § 4-30-106 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 30 - Cooperative Associations|Subchapter 1 - General Provisions|§ 4-30-106. Corporate title

 The title of the corporation may begin with “The” and shall end with “Association”, “Company”, “Corporation”, “Exchange”, “Society”, “Union”, or “Incorporated” or its abbreviation “Inc.”.
AR Code § 4-30-108 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 30 - Cooperative Associations|Subchapter 1 - General Provisions|§ 4-30-108. Articles of incorporation

 (a) The members shall sign and acknowledge written articles of incorporation which shall contain:  (1) The name of the cooperative corporation;  (2) The name and residences of the persons forming the cooperative corporation;  (3) The purpose of the organization;  (4) The principal place of business;  (5) The amount of capital stock;  (6) The number of shares and the par value of each share;  (7) The number of directors and the names of those selected for the first term; and  (8) The time for which the cooperative corporation is to continue if the cooperative corporation is not of perpetual duration.    (b) The original articles of incorporation or a certified copy of them shall be filed with the Secretary of State, who shall return to the cooperative corporation a certified copy of them, with the date of filing and attested with the seal of his or her office.  (c) For filing the articles of incorporation and amendments thereto under this subchapter, the same fees shall be paid to the Secretary of State as are now required under the general corporation law.
AR Code § 4-30-109 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 30 - Cooperative Associations|Subchapter 1 - General Provisions|§ 4-30-109. Bylaws

 (a) Each corporation shall formulate bylaws prescribing the duties of the directors and officials, the manner of distributing the profits of its business, the manner of becoming a member, and such other rules and instructions to its officials and members as will tend to make the corporation an effective business organization.  (b) Any association formed under this chapter may pass bylaws to govern itself in the carrying out of the provisions of this chapter which are not inconsistent with the provisions of this chapter.
AR Code § 4-30-110 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 30 - Cooperative Associations|Subchapter 1 - General Provisions|§ 4-30-110. Board of directors — Officers

 (a) Every association shall be managed by a board of not fewer than five (5) directors.  (b) The directors shall be elected by the stockholders of the association at such times and for such terms of office as the bylaws may prescribe and shall hold office for the time for which elected and until their successors are elected and shall enter upon the discharge of their duties.  (c) A majority of the stockholders shall have power at any regular or special stockholders' meeting legally called to remove any director or official for cause and fill the vacancy, and thereupon the director so removed shall cease to be a director of the association.  (d)  (1) The officers of every association shall be a president, one (1) or more vice presidents, a secretary, and a treasurer and such other officers as may be deemed necessary by the board of directors.  (2) The offices of secretary and treasurer may be combined into the office of secretary-treasurer.
AR Code § 4-30-111 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 30 - Cooperative Associations|Subchapter 1 - General Provisions|§ 4-30-111. Prerequisite for commencing business

 No corporation organized under the provisions of this chapter shall commence business until at least twenty percent (20%) of its capital stock has been paid for in actual cash and a sworn statement to that effect has been filed with the Secretary of State, and his or her receipt for the statement shall be construed as a permit to do business.
AR Code § 4-30-112 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 30 - Cooperative Associations|Subchapter 1 - General Provisions|§ 4-30-112. Percentage of stock ownership limited — Voting by members

 (a) No person shall be allowed to own or have an interest in more than ten percent (10%) of the capital stock of the corporation.  (b) Voting upon all questions shall be by members and not by stock.
AR Code § 4-30-113 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 30 - Cooperative Associations|Subchapter 1 - General Provisions|§ 4-30-113. Books and records — Right of inspection

 (a) Each corporation organized under the provisions of this chapter shall keep correct and complete books and records of account and shall keep minutes of the proceedings of its shareholders and board of directors and shall keep at its registered office or principal place of business in this state a record of its shareholders, giving the names and addresses of all shareholders and the number and class of the shares held by each.  (b)  (1) Any person who shall have been a shareholder of record for at least six (6) months immediately preceding his or her demand shall, upon written demand therefor, be furnished a full itemized accounting of all expenditures of the funds of the corporation during the preceding six-month period and shall have the right to examine, in person or by agent or attorney, at any reasonable time, for any proper purpose, its books and records of account, minutes, and record of shareholders and to make extracts therefrom.  (2) Upon refusal by the corporation or by an officer or agent of the corporation to furnish an accounting or to permit an inspection of the corporation's books, records of account, minutes, or record of shareholders as provided in subdivision (b)(1) of this section, the person making demand therefor may file a civil action in the circuit court of the county in which the corporation maintains either its principal place of business or its registered office for the purpose of securing an order of the court directing the corporation, its officers, and agents to comply with the request.  (3) The preceding shall be advanced upon the docket of the court, and the court shall hear the parties summarily, by affidavit or otherwise; and if the applicant establishes that he or she is qualified and entitled to the accounting or the inspection, the court shall grant an order for the accounting or the inspection, subject to any limitations which the court may prescribe; and the court may grant such other relief as to the court may seem just and proper.  (4) The court may deny or restrict inspection or the request for information if it finds that the shareholder has improperly used information secured through any prior accounting or examination of the books and records of accounts or minutes, or record of shareholders, of the corporation or of any other corporation, or that he or she was not acting in good faith or for a proper purpose in making his or her demand.    (c) Upon the written request of any shareholder of a corporation, the corporation shall mail to the shareholder its most recent financial statements showing in reasonable detail its assets and liabilities and the results of its operations.
AR Code § 4-30-114 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 30 - Cooperative Associations|Subchapter 1 - General Provisions|§ 4-30-114. Annual reports

 Each corporation organized under the provisions of this chapter shall make an annual report to the Secretary of State, as is required of other corporations. However, the cooperative corporation shall be required to report the names of its stockholders and the amount of the stock owned by each for such years only as may be required by the Secretary of State.
AR Code § 4-30-115 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 30 - Cooperative Associations|Subchapter 1 - General Provisions|§ 4-30-115. Forms prescribed by Secretary of State

 The form for receipts and any other papers necessary for carrying into effect the provisions of this chapter shall be prescribed by the Secretary of State.
AR Code § 4-30-116 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 30 - Cooperative Associations|Subchapter 1 - General Provisions|§ 4-30-116. Organization, ownership, control, etc., of other corporations or associations

 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.
AR Code § 4-30-117 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 30 - Cooperative Associations|Subchapter 1 - General Provisions|§ 4-30-117. Liability of members for association's debts

 Except for debts lawfully contracted between him or her and the association, no member shall be liable for the debts of the association to an amount exceeding the sum remaining unpaid on his or her membership fee or subscription to the capital stock, including any unpaid balance on any promissory notes given in payment thereof.
AR Code § 4-30-118 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 30 - Cooperative Associations|Subchapter 1 - General Provisions|§ 4-30-118. Tort liability of cooperative

 All cooperative corporations and associations organized under the laws of the State of Arkansas shall be liable and subject to being sued in the courts of the state for their torts resulting from the negligent acts of their agents, servants, and employees committed in the scope of their employment for the cooperatives.
AR Code § 4-30-201 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 30 - Cooperative Associations|Subchapter 2 - Cooperative Banks|§ 4-30-201. Definition

 As used in this subchapter, unless the context otherwise requires, “cooperative bank” means a corporation or association organized under the provisions of this chapter which receives deposits and forwards checks, drafts, or orders for collection.
AR Code § 4-30-202 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 30 - Cooperative Associations|Subchapter 2 - Cooperative Banks|§ 4-30-202. Applicability of subchapter

 Nothing in this subchapter shall apply to or affect in any manner the so-called agricultural credit corporations or any other type of association organized under this chapter which does not receive deposits or forward checks, drafts, or orders for collection.
AR Code § 4-30-203 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 30 - Cooperative Associations|Subchapter 2 - Cooperative Banks|§ 4-30-203. Subchapter cumulative

 All parts and portions of this subchapter which confer authority or jurisdiction upon the Bank Commissioner or which are in aid or furtherance of such authority or jurisdiction are declared to be cumulative to all laws and parts of laws relating to investment companies, and these portions shall be interpreted and construed accordingly.
AR Code § 4-30-204 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 30 - Cooperative Associations|Subchapter 2 - Cooperative Banks|§ 4-30-204. Future incorporation of cooperative banks prohibited

 After March 22, 1937, it shall not be lawful to organize or create and there shall not be organized or created any cooperative bank as defined in § 4-30-201, and the Secretary of State shall issue no certificates of incorporation or charters for cooperative banks.
AR Code § 4-30-205 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 30 - Cooperative Associations|Subchapter 2 - Cooperative Banks|§ 4-30-205. Conditional termination of corporate existence

 The corporate existence of all of such cooperative banks organized under this chapter prior to March 22, 1937, which are situated in cities, towns, and communities in which there is established and placed in operation a state or national bank or a teller's window branch thereof after March 22, 1937, shall expire and terminate not later than eighteen (18) months from the date that the state or national bank or a teller's window branch thereof opens or opened for business. However, no teller's window branch of any bank shall be placed in any incorporated town where a cooperative bank is in existence in the event a majority of the real property owners within the incorporated limits of the town or city shall protest by petition the State Bank Department's granting its permission to place a teller's window in the city or town.
AR Code § 4-30-206 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 30 - Cooperative Associations|Subchapter 2 - Cooperative Banks|§ 4-30-206. Noncomplying banks — Supervision by commissioner

 On failure of any cooperative bank organized under this chapter prior to March 22, 1937, to comply with the provisions of § 4-30-205, it shall become the duty of the Bank Commissioner to take charge of the cooperative bank under the provisions of Acts 1931, No. 109, § 8 [repealed].
AR Code § 4-30-207 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 30 - Cooperative Associations|Subchapter 2 - Cooperative Banks|§ 4-30-207. Banks declared investment companies — Penalty — Exception

 (a) Every cooperative bank organized under this chapter prior to March 22, 1937, which is not situated in a city, town, or community in which there is also situated a state or national bank or a teller's window branch thereof is declared to be an investment company and shall be placed under the regulation and supervision of the State Securities Department, in the same manner as now provided by law for other investment companies. The Securities Commissioner, in consultation with the Secretary of the Department of Commerce, is authorized, empowered, and directed to make and promulgate all such rules not inconsistent herewith as shall be necessary or convenient for the administration and carrying out of this subchapter and for the supervision and control of all such organizations.  (b) Failure to comply with any of the requirements of this section subjects the cooperative bank which is guilty of the failure and its president, its secretary, and its directors to the penalties provided for violation of the Arkansas Securities Act, § 23-42-101 et seq.  (c) However, nothing in this subchapter shall apply to or affect any cooperative bank organized under this chapter prior to March 22, 1937, and situated on the campus of a school, college, or university and employed by the school as a means of instruction.
AR Code § 4-31-202 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 31 - Foreign Investors|Subchapter 2 - Qualification to Do Business|§ 4-31-202. Activities as fiduciary, trustee, or agent of trust

 (a) The following shall likewise not be considered to be transacting or engaging in business in this state:  (1) The acquisition or making of loans or participation or interest therein which is secured by mortgages or mortgage notes on real property located in this state; or  (2) The doing of any or all the other acts or things with respect thereto enumerated in this subchapter by:  (A) Any such bank, trust company, or any foreign corporation when acting as fiduciary, trustee, or agent of any trust, whether testamentary or inter vivos, including foundations and trusts established for the purpose of funding pension, profit-sharing, or employee benefit plans;  (B) An endowed institution, foundation, or eleemosynary corporation;  (C) Any corporation chartered under the laws of another state as a group insurance and annuity association and engaged in the business of insurance, annuities, pensions, and retirement plans for any group of persons, educational institutions, and others; or  (D) Any foreign corporation all the capital stock of which, except directors' qualifying shares, is owned by one (1) or more of the entities referred to in subdivisions (a)(2)(A)-(C) of this section.      (b) Any foreign corporation when so acting as fiduciary, trustee, or agent and any such trust, endowed institution, foundation, eleemosynary corporation, or group insurance and annuity association shall be entitled to all the rights, privileges, and exceptions set forth in this subchapter.
AR Code § 4-31-203 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 31 - Foreign Investors|Subchapter 2 - Qualification to Do Business|§ 4-31-203. Extent of benefits and application of subchapter

 (a) Nothing in this subchapter shall be construed as limiting the benefits and application of this subchapter to loans insured or guaranteed by the Federal Housing Administration, the Department of Veterans Affairs, or any other governmental agency or department.  (b) The benefits of this subchapter shall extend to and include all loans or participations or interests therein secured by mortgages or mortgage notes on real property situated in Arkansas, whether or not insured or guaranteed.  (c) Nothing in this subchapter shall be construed to permit any foreign corporation to do business in violation of the small loan law of the State of Arkansas nor of the laws of Arkansas governing the organization and operation of building and loan associations or societies, or savings and loan associations or societies, or any insurance company, nor to limit the authority of foreign corporations authorized to do unlimited business under the general laws of Arkansas, or to qualify to be so authorized.
AR Code § 4-31-204 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 31 - Foreign Investors|Subchapter 2 - Qualification to Do Business|§ 4-31-204. Actions — Service of process — Venue

 (a)  (1) Any bank, trust company, foreign mutual savings bank, pension fund, foreign mutual savings fund society, mutual banking association, foreign insurance company, or any other type of organization defined in this subchapter and investing funds in Arkansas may sue or be sued within this state in relation to such mortgages or deeds of trust on real properties, securities, or debts, and service of process may be performed by service upon any custodian or agent appointed within the state.  (2) If no custodian or agent has been appointed, the bank, trust company, foreign mutual savings bank, pension fund, foreign mutual savings fund society, mutual banking association, foreign insurance company, or other type of organization may be served with process under § 4-20-113.    (b) The venue of an action under subsection (a) of this section is:  (1) In the county of the residence of a plaintiff; or  (2) If a subject of the action is land, in the county in which any part of the land is located.
AR Code § 4-31-205 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 31 - Foreign Investors|Subchapter 2 - Qualification to Do Business|§ 4-31-205. Taxes

 (a) No corporation, institution, or entity coming under the provisions of this subchapter and confining its business operations in Arkansas within the limits herein provided shall be required to qualify to do business in this state by filing its charter in the office of the Secretary of State or to pay any tax or fee required to be paid by foreign corporations under any law of this state.  (b) However, the exemption shall not include:  (1) Ad valorem taxes assessed against any real property which the corporation, institution, or entity may own in the State of Arkansas;  (2) Arkansas income, franchise, and privilege tax which may result from the sale, ownership, or control after acquisition of the property by foreclosure, or acquisition in lieu of foreclosure, either by virtue of the value of the specific piece of property so foreclosed or to which title is taken in lieu of foreclosure, or by virtue of the rental or other income realized from the property; or  (3) Arkansas income taxes which may be levied upon financial institutions pursuant to § 26-51-1401 et seq.
AR Code § 4-31-301 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 3 - Corporations and Associations|Chapter 31 - Foreign Investors|Subchapter 3 - Service as Fiduciary|§ 4-31-301. Intent

 The General Assembly has determined that Acts 1979, No. 118 [repealed], authorized foreign banks and trust companies to act as fiduciaries within this state if the state under which they were organized and have their principal office grants reciprocal authority to Arkansas banks and trust companies, and that such authority was inadvertently repealed by the Arkansas Business Corporation Act of 1987, § 4-27-101 et seq. It is the intent of this section and §§ 4-31-302 and 4-31-303 to reestablish that reciprocal authority and to ratify any transactions that have occurred since the enactment of the Arkansas Business Corporation Act of 1987, § 4-27-101 et seq., and which would have been valid under Acts 1979, No. 118 [repealed].