Article XII — Municipal And Private Corporations
12 sections · 0 paragraphs in this article.
Ark. Const. art. XII, § 1 Section 1
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All existing charters or grants of special or exclusive privileges under which bona fide organization shall not have taken place and business been commenced in good faith at the time of the adoption of this Constitution shall thereafter have no validity.
Ark. Const. art. XII, § 2 Section 2
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The General Assembly shall pass no special act conferring corporate powers, except for charitable, educational, penal or reformatory purposes, where the corporations created are to be and remain under the patronage and control of the State.
Ark. Const. art. XII, § 3 Section 3
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The General Assembly shall provide, by general laws, for the organization of cities (which may be classified) and incorporated towns, and restrict their power of taxation, assessment, borrowing money and contracting debts, so as to prevent the abuse of such power.
Ark. Const. art. XII, § 4 Section 4
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No municipal corporation shall be authorized to pass any laws contrary to the general laws of the State; nor levy any tax on real or personal property to a greater extent, in one year, than five mills on the dollar of the assessed value of the same. Provided, that, to pay indebte…
Ark. Const. art. XII, § 5 Section 5
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No county, city, town or other municipal corporation shall become a stockholder in any company, association or corporation, or obtain or appropriate money for, or loan its credit to, any corporation, association, institution or individual.
Ark. Const. art. XII, § 6 Section 6
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Corporations may be formed under general laws, which laws may, from time to time, be altered or repealed. The General Assembly shall have the power to alter, revoke or annul any charter of corporation now existing and revokable at the adoption of this Constitution, or any that ma…
Ark. Const. art. XII, § 7 Section 7
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Except as herein provided, the State shall never become a stockholder in, or subscribe to, or be interested in, the stock of any corporation or association.
Ark. Const. art. XII, § 8 Section 8
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No private corporation shall issue stocks or bonds, except for money or property actually received or labor done, and all fictitious increase of stock or indebtedness shall be void; nor shall the stock or bonded indebtedness of any private corporation be increased, except in purs…
Ark. Const. art. XII, § 9 Section 9
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No property, nor right of way, shall be appropriated to the use of any corporation until full compensation therefor shall be first made to the owner, in money, or first secured to him by a deposit of money which compensation, irrespective of any benefit from any improvement propo…
Ark. Const. art. XII, § 10 Section 10
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No act of the General Assembly shall be passed authorizing the issue of bills, notes or other paper which may circulate as money.
Ark. Const. art. XII, § 11 Section 11
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Foreign corporations may be authorized to do business in this State under such limitations and restrictions as may be prescribed by law. Provided, that no such corporation shall do any business in this State except while it maintains therein one or more known places of business a…
Ark. Const. art. XII, § 12 Section 12
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Except as herein otherwise provided, the State shall never assume or pay the debt or liability of any county, town, city or other corporation whatever, or any part thereof, unless such debt or liability shall have been created to repel invasion, suppress insurrection or to provid…