Ark. Code Ann. § 4-26-801

Board of directors generally

Known as the Arkansas Business Corporation Act

The act spans §§ 4–4 (323 sections).

Applied in 1 court decision — leading case Smith v. Leonard (1994)

Most recently applied in Smith v. Leonard (May 1994)

Acts 1965, No. 576, § 36; A.S.A. 1947, § 64-301; Acts 1987, No. 323, § 2.

(1) All corporate powers shall be exercised by or under the authority of, and the business and affairs of a corporation shall be managed under the direction of, its board of directors, subject to any limitation set forth in the articles of incorporation.

(2) Directors need not be residents of this state or shareholders of the corporation unless the articles of incorporation or bylaws so require. The articles of incorporation or bylaws may prescribe other qualifications for directors.

(3) The board of directors shall have authority to fix the compensation of directors unless otherwise provided in the articles of incorporation.

(4) Directors may not vote by proxy.

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.