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23-11-203. Articles of incorporation.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-11-203. Articles of incorporation.
(a) The articles of incorporation of any contemplated railroad corporation shall contain all of the information prescribed for inclusion in the application to be filed with the Arkansas Department of Transportation by § 23-11-204. However, it shall not be necessary that the articles contain a statement of the manner in which the public convenience, necessity, and interest will be served by the granting of the charter, nor shall it be necessary that a preliminary survey of the proposed roadway or route be attached to the articles.
(b) The articles shall contain and set forth, subject to the limitations imposed by law or the Arkansas Constitution, those powers which it is desired by the incorporators that the contemplated corporation shall exercise. However, the statement of powers may be general in nature, and a general statement of powers in the articles shall not have the effect of prohibiting the corporation from exercising those powers specifically granted by the law of this state, unless so provided by the articles.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-11-203
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:23-11-203
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 5c147f1c14df9044b2bec3f9682fde993b070dc27a8c0845b70654bc12b6df95
Source location: content.xml paragraph 6004
Stored source content
23-11-203. Articles of incorporation.
(a) The articles of incorporation of any contemplated railroad corporation shall contain all of the information prescribed for inclusion in the application to be filed with the Arkansas Department of Transportation by § 23-11-204. However, it shall not be necessary that the articles contain a statement of the manner in which the public convenience, necessity, and interest will be served by the granting of the charter, nor shall it be necessary that a preliminary survey of the proposed roadway or route be attached to the articles.
(b) The articles shall contain and set forth, subject to the limitations imposed by law or the Arkansas Constitution, those powers which it is desired by the incorporators that the contemplated corporation shall exercise. However, the statement of powers may be general in nature, and a general statement of powers in the articles shall not have the effect of prohibiting the corporation from exercising those powers specifically granted by the law of this state, unless so provided by the articles.
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-11-204. Formation of railroad corporation — Application — Contents.
Any number of persons, not fewer than three (3), being subscribers of the stock of any contemplated railroad corporation and desiring to form a railroad corporation under the laws of this state, may do so by first filing an application with the Arkansas Department of Transportation, setting forth the following information:
(1) The name of the proposed corporation. The corporate name must end with abbreviation “Inc.” or must include the word “corporation” or “incorporation” or may include the word “company” or the abbreviation “Co.” if that word or abbreviation is not immediately preceded by the word “and” or the abbreviation “&”;
(2) The purpose of the corporation;
(3) The duration of the corporation, which may be perpetual or limited;
(4) The name of its resident agent, which resident agent may be either an individual or a corporation, and the address of the resident agent must be shown with particularity;
(5) If the corporation is to be authorized to issue:
(A) Only one (1) class of stock, the total number of shares of stock which the corporation shall have authority to issue, and:
(i) The par value of each of the shares; or
(ii) A statement that all the shares are to be without par value; or
(B) More than one (1) class of stock, the total number of shares of all classes which the corporation shall have authority to issue, and:
(i) The number of the shares of each class thereof that are to have a par value and the par value of each share of each such class;
(ii) The number of shares that are to be without par value; and
(iii) A statement of all or any of the designations and the powers, preferences, and rights, and the qualifications and limitations or restrictions thereof
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-11-204
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 23-11-204. This identifies an authority to review, not proof of applicability.