A corporation shall not transact any business or incur any indebtedness, except such as shall be incidental to its organization or to obtaining subscriptions to or payment for its shares until there has been paid in for the issuance of shares consideration of the value of at least three hundred dollars ($300).
Ark. Code Ann. § 4-26-206
Prerequisite to commencing business
Known as the Arkansas Business Corporation Act
The act spans §§ 4–4 (323 sections).
Acts 1965, No. 576, § 57; A.S.A. 1947, § 64-504.
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.