2019 Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 3 - Corporations and Associations
Chapter 29 - Professional Corporations
Subchapter 2 - Arkansas Professional Corporation Act
§ 4-29-202. Definitions

Universal Citation: AR Code § 4-29-202 (2019)
  • 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 unrestricted right to revoke the trust;

    • (2) “Professional service” means any type of professional service which may be legally performed only pursuant to a license or other legal personal authorization for example, the personal service rendered by certified public accountants, architects, engineers, dentists, doctors, and attorneys at law; and

    • (3) “Shareholder” means either:

      • (A) The person in whose name shares are registered in the records of a corporation; or

      • (B) The beneficial owner of shares of a revocable living trust where the shares are registered in the records of the corporation in the name of the revocable living trust.

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