4-29-302. Definitions.

Arkansas Code — all titles (historical 2020) · legal_authorities

4-29-302. Definitions.

4-29-302. Definitions. As used in this subchapter: (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) “Foreign medical corporation” means a corporation: (A) Organized under laws other than the laws of this state; and (B) In which all officers, directors, and shareholders of the corporation are licensed to practice medicine in the state of incorporation; (3) “Professional service” means any type of professional service that 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 (4) “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 names of the revocable living trust.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-29-302

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.