Arkansas Constitution
Article 12 - Municipal and Private Corporations
Section 8 - Private corporations - Issuance of stocks or bonds - Conditions and restrictions
Universal Citation: AR Const art 12 § 8
No private corporation shall issue stocks or bonds, except for money or property actually received, or labor done; and all fictitious increase of stock or indebtedness shall be void; nor shall the stock or bonded indebtedness of any private corporation be increased, except in pursuance of general laws; nor until the consent of the persons holding the larger amount, in value, of stock, shall be obtained at a meeting held after notice given, for a period not less than sixty days, in pursuance of law.
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