Upon demand of one-third (1/3) of the entire board of directors, any matter that has been approved or passed by the board must be referred to the entire membership or the stockholders for decision at the next special or regular meeting. A special meeting may be called for that purpose.
Ark. Code Ann. § 2-2-418
Matters referred to entire membership
Acts 1921, No. 116, § 16; Pope's Dig., § 2301; A.S.A. 1947, § 77-916.
Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.