Arkansas Code Title 4, Subtitle 3, Chapter 26, Subchapter 6 - Corporate Finance

• § 4-26-601 - Authorized Shares Generally -- Preferred or Special Classes.
  (a) Each corporation shall have power to create and issue the number of shares stated in its articles of incorporation.(b) The shares may be...
• § 4-26-602 - Shares of Preferred or Special Classes -- Issuance in Series.
  (a) If the articles of incorporation so provide, the shares of any preferred or special class may be divided into and issued in series.(b)...
• § 4-26-603 - Subscriptions for Shares.
  (a) No preincorporation or postincorporation subscription is valid unless in writing, signed, and delivered by the subscriber-purchaser.(b) (1) A valid preincorporation subscription shall be...
• § 4-26-604 - Consideration for Shares Generally.
  (a) Shares having a par value may be issued for such consideration expressed in dollars or as a formula or method for determining a...
• § 4-26-605 - Payment for Shares.
  (a) (1) The consideration paid for the issuance of shares shall consist of money paid, labor done, or property actually received. (2) Shares may...
• § 4-26-606 - Payment of Expenses of Organization, Reorganization, Financing, Etc.
  The reasonable charges and expenses of organization or reorganization of a corporation and the reasonable expenses of and compensation for the sale or underwriting...
• § 4-26-607 - Stated Capital -- Capital Surplus -- Earned Surplus.
  (a) In case of the issuance by a corporation of shares having a par value, the consideration received shall constitute stated capital to the...
• § 4-26-608 - Signed Certificates Representing Shares.
  (a) (1) The shares of a corporation shall be represented by certificates signed by the president or a vice-president and the secretary or an...
• § 4-26-609 - Issuance of Fractional Shares or Scrip.
  (a) A corporation may, but shall not be obliged to, issue a certificate for a fractional share and, by action of its board of...
• § 4-26-610 - Restrictions on Transfer of Shares.
  (a) (1) A corporation may provide, in respect to any of its shares which are to be issued, that the future transfer, whether inter...
• § 4-26-611 - Acquisition or Disposition of Corporation's Own Shares.
  (a) A corporation shall not purchase directly or indirectly any of its own shares unless the purchase is authorized by this section and not...
• § 4-26-612 - Treasury Shares -- Cancellation.
  (a) A corporation may at any time, by resolution of its board of directors, cancel all or any part of its treasury shares; and...
• § 4-26-613 - Redeemable Shares -- Restrictions on Redemption or Purchase.
  A corporation shall not redeem its shares, or purchase its redeemable shares in lieu of redemption, if at the time of, or as a...
• § 4-26-614 - Redeemable Shares -- Cancellation by Redemption or Purchase.
  (a) When redeemable shares of a corporation are redeemed or purchased by the corporation, the redemption or purchase shall effect a cancellation of the...
• § 4-26-615 - Reduction of Stated Capital.
  (a) If all or part of the stated capital of a corporation is represented by shares without par value, the stated capital of the...
• § 4-26-616 - Surplus, Net Profits, and Valuation of Assets.
  (a) (1) "Earned surplus" or "retained earnings" means the portion of the surplus of a corporation equal to the balance of its net profits,...
• § 4-26-617 - Dividends -- General Powers of Board.
  The board of directors may from time to time declare, and the corporation may pay, dividends on its outstanding shares, which dividends may be...
• § 4-26-618 - Share Dividends.
  (a) Subject to the restrictions provided in this subsection, the board of directors of a corporation may declare and pay dividends in its own...
• § 4-26-619 - Dividends Other Than in Shares of the Corporation.
  In respect to all dividends payable by a corporation other than dividends payable in its own shares: (1) Subject to subdivisions (3) and (4)...
• § 4-26-620 - Distributions in Partial Liquidation.
  The board of directors of a corporation may from time to time distribute to its shareholders in partial liquidation out of capital surplus, other...
• § 4-26-621 - Contractual Restriction on Dividends.
  Nothing in this chapter shall impair the right of a corporation to restrict, through a valid loan agreement, the payment of dividends or the...

Last modified: November 15, 2016