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2017 Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 3 - Corporations and Associations
Chapter 28 - Nonprofit Organizations
Subchapter 2 - Arkansas Nonprofit Corporation Act
§ 4-28-219. Shares of stock and dividends prohibited
Universal Citation: AR Code § 4-28-219 (2017)
- (a) A corporation shall not have or issue shares of stock.
- (b) No dividend shall be paid and no part of the income of a corporation shall be distributed to its members, directors, or officers.
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