2020 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 (2020)

As used in this subchapter, unless the context otherwise requires:

  1. (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. (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. (3) “Shareholder” means either:

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

    2. (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.

Disclaimer: These codes may not be the most recent version. Arkansas may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.