Browse Arkansas Code titles and sections
23-69-127. Consideration for stock.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-69-127. Consideration for stock.
(a) Shares of stock of a domestic stock insurer shall be issued for a consideration having a value in the judgment of the insurer's board of directors of not less than the par value of the stock so issued.
(b) In the absence of fraud, or willful over-valuation or under-valuation in the transaction, the judgment of the directors as to the value of any consideration shall be conclusive.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-69-127
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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Record provenance
Stable record: arkansas_code:legal_authorities:23-69-127
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: ce59a6c4cc4841c13981f125c5874d15f5cb6a7269b2c6dcf85636dfd3520b5e
Source location: content.xml paragraph 40609
Stored source content
23-69-127. Consideration for stock.
(a) Shares of stock of a domestic stock insurer shall be issued for a consideration having a value in the judgment of the insurer's board of directors of not less than the par value of the stock so issued.
(b) In the absence of fraud, or willful over-valuation or under-valuation in the transaction, the judgment of the directors as to the value of any consideration shall be conclusive.
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