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Ark. Code Ann. § 6-2-103

Purpose — Use of funds or property

Acts 1911, No. 375, § 2; C. & M

(1) The purpose for which every such corporation shall be established shall be distinctly specified in its articles of association.

(2) It shall not be lawful for the corporation to divert or appropriate its funds or property for any other purpose unless authorized to do so by the person, conference, convention, association, synod, or other body under whose auspices the institution may have been established or for whose benefit it may be maintained, or by which it may be controlled.

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.