Title 4 — Business and Commercial Law

This subchapter does not alter any law applicable to the relationship between a physician furnishing medical service and a person receiving the service, including liability arising out of the service.

(a) One (1) or more persons licensed pursuant to the Arkansas Medical Practices Act, § 17-95-201 et seq., § 17-95-301 et seq., and § 17-95-401 et seq., may associate to form a corporation pursuant to the Arkansas Business Corporation Act of 1987, § 4-27-101 et seq., to own, opera…

(a) (1) The corporate name may contain the names of one (1) or more of the shareholders.(2) However, the name of a person who is not employed by the corporation shall not be included in the corporate name, except that the name of a deceased shareholder may continue to be included…

(a) All of the officers, directors, and shareholders of a corporation subject to this subchapter shall at all times be persons licensed pursuant to the Arkansas Medical Practices Act, § 17-95-201 et seq., § 17-95-301 et seq., and § 17-95-401 et seq. (b) No person who is not so li…

Each individual employee licensed pursuant to the Arkansas Medical Practices Act, § 17-95-201 et seq., § 17-95-301 et seq., and § 17-95-401 et seq., who is employed by a corporation subject to this subchapter shall remain subject to reprimand or discipline for his or her conduct …

(a) No corporation shall open, operate, or maintain an establishment for any of the purposes set forth in § 4-29-305 without a certificate of registration from the Arkansas State Medical Board. (b) Application for the registration shall be made to the board in writing and shall c…

(a) The Arkansas State Medical Board may suspend or revoke any certificate of registration for any of the following reasons:(1) The revocation or suspension of the license to practice medicine of any officer, director, shareholder, or employee not promptly removed or discharged b…

(a) Any corporation whose application for a certificate of registration has been denied or whose registration has been suspended or revoked may appeal to the Pulaski County Circuit Court within thirty (30) days after notice of the action by the Arkansas State Medical Board. (b) T…

(a) If the articles of incorporation or bylaws of a corporation subject to this subchapter fail to state a price or method of determining a fixed price at which the corporation or its shareholders may purchase the shares of a deceased shareholder or a shareholder no longer qualif…

(a) If a foreign medical corporation complies with this subchapter, the Arkansas State Medical Board may issue a certificate of registration to the foreign medical corporation. (b) A person who is not licensed to practice medicine shall not participate in the ownership, managemen…

(a) This subchapter may be cited as the “Dental Corporation Act”. (b) As used in this subchapter, unless the context otherwise requires:(1) “Beneficial owner” means an individual who is the grantor and sole trustee of a revocable living trust wherein the individual reserves the u…

(a) The Arkansas Business Corporation Act of 1987, § 4-27-101 et seq., shall be applicable to such corporations, including their organization, except that the required number of incorporators of a dental corporation shall be one (1) or more, and they shall enjoy the powers and pr…

This subchapter does not alter any law applicable to the relationship between a dentist furnishing dental service and a person receiving the service, including liability arising out of the service.

One (1) or more persons licensed pursuant to the Arkansas Dental Practice Act, § 17-82-101 et seq., may associate to form a corporation pursuant to the Arkansas Business Corporation Act of 1987, § 4-27-101 et seq., to own, operate, and maintain an establishment for the study, dia…

(a) The corporate name shall contain the names of one (1) or more of the shareholders. However, the name of a person who is not employed by the corporation shall not be included in the corporate name, except that the name of a deceased shareholder may continue to be included in t…

All of the officers, directors, and shareholders of a corporation subject to this subchapter shall at all times be persons licensed pursuant to the Arkansas Dental Practice Act, § 17-82-101 et seq. No person who is not so licensed shall have any part in the ownership, management,…

Each individual employee licensed pursuant to the Arkansas Dental Practice Act, § 17-82-101 et seq., who is employed by a corporation subject to this subchapter shall remain subject to reprimand or discipline for his or her conduct under the provisions of the Arkansas Dental Prac…

(a) No corporation shall open, operate, or maintain an establishment for any of the purposes set forth in § 4-29-404 without a certificate of registration from the Arkansas State Board of Dental Examiners. (b) Application for the registration shall be made to the board in writing…

(a) The Arkansas State Board of Dental Examiners may suspend or revoke any certificate of registration for any of the following reasons:(1) The revocation or suspension of the license to practice dentistry of any officer, director, shareholder, or employee not promptly removed or…

(a) Any corporation whose application for a certificate of registration has been denied or whose registration has been suspended or revoked may appeal within thirty (30) days after notice of the action by the Arkansas State Board of Dental Examiners to the Pulaski County Circuit …

If the articles of incorporation or bylaws of a corporation subject to this subchapter fail to state a price or method of determining a fixed price at which the corporation or its shareholders may purchase the shares of a deceased shareholder or a shareholder no longer qualified …

(1) As used in this chapter, unless the context otherwise requires, the “cooperative plan” shall be construed to mean a business concern that distributes the net profits of its business by:(1) The payment of a fixed dividend upon its stock; and(2) The remainder prorated to its se…

The purpose of this chapter is to provide for the formation and carrying on of cooperative associations and to provide for the rights, powers, liabilities, and duties of such cooperative associations.

The provisions of this chapter shall not be construed in any manner to limit, restrict, enlarge, modify, change, conflict with, or in any manner whatever affect the provisions of the Cooperative Marketing Act, § 2-2-401 et seq., it being the intent of the General Assembly that ea…

(a) All cooperative corporations, companies, or associations organized and doing business under prior statutes, or which have attempted to so organize and do business, shall have the benefit of all the provisions of this chapter and may be bound thereby on paying the fees provide…

The provisions of this chapter shall be administered by the Secretary of State, who shall have power to employ such help as in his or her judgment is necessary to carry into effect the provisions of this chapter.

The title of the corporation may begin with “The” and shall end with “Association”, “Company”, “Corporation”, “Exchange”, “Society”, “Union”, or “Incorporated” or its abbreviation “Inc.”.

(a) Any number of persons, corporations, or entities may associate themselves together as a cooperative corporation for any one (1) or more of the following purposes under the cooperative plan of the cooperative corporation:(1) Conducting an agricultural, dairy, mercantile, minin…

(a) The members shall sign and acknowledge written articles of incorporation which shall contain:(1) The name of the cooperative corporation;(2) The name and residences of the persons forming the cooperative corporation;(3) The purpose of the organization;(4) The principal place …

(a) Each corporation shall formulate bylaws prescribing the duties of the directors and officials, the manner of distributing the profits of its business, the manner of becoming a member, and such other rules and instructions to its officials and members as will tend to make the …

(a) Every association shall be managed by a board of not fewer than five (5) directors. (b) The directors shall be elected by the stockholders of the association at such times and for such terms of office as the bylaws may prescribe and shall hold office for the time for which el…

No corporation organized under the provisions of this chapter shall commence business until at least twenty percent (20%) of its capital stock has been paid for in actual cash and a sworn statement to that effect has been filed with the Secretary of State, and his or her receipt …

(a) No person shall be allowed to own or have an interest in more than ten percent (10%) of the capital stock of the corporation. (b) Voting upon all questions shall be by members and not by stock.

(a) Each corporation organized under the provisions of this chapter shall keep correct and complete books and records of account and shall keep minutes of the proceedings of its shareholders and board of directors and shall keep at its registered office or principal place of busi…

Each corporation organized under the provisions of this chapter shall make an annual report to the Secretary of State, as is required of other corporations. However, the cooperative corporation shall be required to report the names of its stockholders and the amount of the stock …

The form for receipts and any other papers necessary for carrying into effect the provisions of this chapter shall be prescribed by the Secretary of State.

An association organized or existing hereunder may organize, form, operate, own, control, have an interest in, own stock of, or be a member of any corporation or association, with or without capital stock, engaged in any of the activities authorized under this chapter, whether fo…

Except for debts lawfully contracted between him or her and the association, no member shall be liable for the debts of the association to an amount exceeding the sum remaining unpaid on his or her membership fee or subscription to the capital stock, including any unpaid balance …

All cooperative corporations and associations organized under the laws of the State of Arkansas shall be liable and subject to being sued in the courts of the state for their torts resulting from the negligent acts of their agents, servants, and employees committed in the scope o…

As used in this subchapter, unless the context otherwise requires, “cooperative bank” means a corporation or association organized under the provisions of this chapter which receives deposits and forwards checks, drafts, or orders for collection.

Nothing in this subchapter shall apply to or affect in any manner the so-called agricultural credit corporations or any other type of association organized under this chapter which does not receive deposits or forward checks, drafts, or orders for collection.

All parts and portions of this subchapter which confer authority or jurisdiction upon the Bank Commissioner or which are in aid or furtherance of such authority or jurisdiction are declared to be cumulative to all laws and parts of laws relating to investment companies, and these…

After March 22, 1937, it shall not be lawful to organize or create and there shall not be organized or created any cooperative bank as defined in § 4-30-201, and the Secretary of State shall issue no certificates of incorporation or charters for cooperative banks.

The corporate existence of all of such cooperative banks organized under this chapter prior to March 22, 1937, which are situated in cities, towns, and communities in which there is established and placed in operation a state or national bank or a teller's window branch thereof a…