Arkansas Code Title 14, Subtitle 10, Chapter 175 - Public Corporations for Economic Development Act

• § 14-175-101 - Title.
  This chapter shall be known and may be cited as the "Public Corporations for Economic Development Act".
• § 14-175-102 - Intent.
  It is the intent of the General Assembly by the enactment of this chapter to authorize in each municipality and county in this state...
• § 14-175-103 - Definitions.
  As used in this subchapter: (1) "Board" means the board of directors of a corporation; (2) "Corporation" means a corporation organized under this chapter;...
• § 14-175-104 - Construction.
  (a) This chapter shall be liberally construed in conformity with its intent.(b) (1) All acts and activities of the public corporation performed under the...
• § 14-175-105 - Authority Generally.
  There is conferred upon corporations incorporated as public corporations under this chapter the authority to take such action and to do or cause to...
• § 14-175-106 - Authority and Procedure to Incorporate.
  (a) Whenever any number of natural persons, but not fewer than three (3), files with the governing body an application in writing for authority...
• § 14-175-107 - Articles of Incorporation.
  (a) The articles of incorporation of the corporation shall state: (1) The names of the persons forming the corporation, together with the residence of...
• § 14-175-108 - Execution and Recording of Articles.
  (a) The articles of incorporation shall be signed and acknowledged by the incorporators and shall have attached to them a certified copy of the...
• § 14-175-109 - Board of Directors.
  (a) The corporation shall have a board of directors composed of five (5) to fifteen (15) members, as specified in the corporation's articles of...
• § 14-175-110 - Officers.
  (a) (1) The officers of the corporation shall consist of: (A) A chair; (B) A vice chair; (C) A secretary; (D) A treasurer; and...
• § 14-175-111 - Powers Generally.
  (a) The corporation shall have and exercise all of the rights, powers, privileges, authority, and functions given by the general laws of this state...
• § 14-175-112 - Economic Development Taxes.
  (a) All tax proceeds received by a corporation under § 14-174-101 et seq. shall be used for any one (1) or more of the...
• § 14-175-113 - Average Weekly Wage -- Job Training Expenditures.
  A corporation may spend tax revenue received under this chapter for job training offered through an enterprise only if the enterprise has committed in...
• § 14-175-114 - Limitation on Liability.
  The corporation, the corporation's board of directors, officers, employees and agents, the local government approving the organization of a corporation, members of the governing...
• § 14-175-115 - Annual Reports.
  (a) Each corporation shall make a written report to the governing body that created the corporation concerning its activities for the preceding calendar year.(b)...
• § 14-175-116 - Application of Arkansas Nonprofit Corporation Act of 1993.
  (a) Each corporation is subject to the provisions of the Arkansas Nonprofit Corporation Act of 1993, § 4-33-101 et seq., to the extent that...

Last modified: November 15, 2016