Public-domain · open source
OpenJurist

Ark. Code Ann. § 4-27-1008

Amendment pursuant to reorganization

Known as the Arkansas Business Corporation Act

The act spans §§ 4–4 (323 sections).

Acts 1987, No. 958, § 64-1008.

(1) A corporation's articles of incorporation may be amended without action by the board of directors or shareholders to carry out a plan of reorganization ordered or decreed by a court of competent jurisdiction under federal statute if the articles of incorporation after amendment contain only provisions required or permitted by § 4-27-202.

(2) The individual or individuals designated by the court shall deliver to the Secretary of State for filing articles of amendment setting forth: the name of the corporation;

(3) the text of each amendment approved by the court;

(4) the date of the court's order or decree approving the articles of amendment;

(5) the title of the reorganization proceeding in which the order or decree was entered; and

(6) a statement that the court had jurisdiction of the proceeding under federal statute.

(7) Shareholders of a corporation undergoing reorganization do not have dissenters' rights except as and to the extent provided in the reorganization plan.

(8) This section does not apply after entry of a final decree in the reorganization proceeding even though the court retains jurisdiction of the proceeding for limited purposes unrelated to consummation of the reorganization plan.

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.