99 chapters · 2,147 sections in this title.
Ark. Code Ann. § 16-120-606 Adjustment
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(a) Except as provided in subsections (b)-(d) of this section, the fair market value of total gross assets at the time of the merger or consolidation shall increase annually at a rate equal to the sum of:(1) The prime rate as listed in the first edition of the Wall Street Journal…
Ark. Code Ann. § 16-120-701 Legislative determination
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The General Assembly has determined that nonprofit corporations serve important functions in providing services and assistance to persons in the state and that, in order for these nonprofit corporations to function effectively, persons serving on the board of directors should not…
Ark. Code Ann. § 16-120-702 Persons granted immunity
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(a) Except as otherwise provided by this subchapter, no member of any board, commission, agency, authority, or other governing body of any governmental entity and no member of the board of directors of a nonprofit corporation that holds a valid federal income tax exemption issued…
Ark. Code Ann. § 16-120-703 Exceptions to immunity grant
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(a) The immunity provided by this subchapter shall not extend to acts or omissions of directors of nonprofit corporations or members of boards, commissions, agencies, authorities, or other governing bodies of any governmental entity which constitute ordinary or gross negligence p…