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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
§ 4-28-222. Involuntary dissolution
Universal Citation: AR Code § 4-28-222 (2017)
- A corporation incorporated under the provisions of the Arkansas Nonprofit Corporation Act, §§ 4-28-201 -- 4-28-206 and 4-28-209 -- 4-28-224, may be dissolved involuntarily by a decree of the Pulaski County Circuit Court in an action filed by the Attorney General or by a decree of the circuit court of the county in which that corporation is domiciled in an action filed by the prosecuting attorney when it is established that:
- (1) The corporation procured its articles of incorporation through fraud;
- (2) The corporation has continued to exceed or abuse the authority conferred upon it by law;
- (3) The corporation has failed for ninety (90) days to appoint and maintain a registered agent in this state;
- (4) The corporation has failed to keep proper accounting records as provided in the Arkansas Nonprofit Corporation Act, §§ 4-28-201 -- 4-28-206 and 4-28-209 -- 4-28-224;
- (5) The corporation constitutes a public nuisance; or
- (6) The corporation has violated the laws of this state or the rules and regulations of any state regulatory board or commission having jurisdiction of any activity of the corporation.
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