If the articles of incorporation authorize dividing the shares into classes, the articles may also authorize the election of all or a specified number of directors by the holders of one (1) or more authorized classes of shares. A class (or classes) of shares entitled to elect one (1) or more directors is a separate voting group for purposes of the election of directors.
Ark. Code Ann. § 4-27-804
Election of directors by certain classes of shareholders
Known as the Arkansas Business Corporation Act
The act spans §§ 4–4 (323 sections).
Acts 1987, No. 958, § 64-804.
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.