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Ark. Code Ann. § 4-36-105

Election of status

Known as the Arkansas Benefit Corporation Act

The act spans §§ 4–4 (13 sections).

Acts 2013, No. 1388, § 1.

(1) An existing business corporation may become a benefit corporation under this chapter by amending its articles of incorporation so that they contain, in addition to the requirements of § 4-27-202, a statement that the corporation is a benefit corporation.

(2) To be effective, an amendment shall be adopted by at least the minimum status vote.

(3) If an entity is not a benefit corporation but is a constituent corporation or organization in a merger or conversion with a benefit corporation, the merger or conversion shall be approved by at least the minimum status vote.

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.