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4-29-312. Shares of deceased or disqualified shareholder — Price.
Arkansas Code — all titles (historical 2020) · legal_authorities
4-29-312. Shares of deceased or disqualified shareholder — Price.
(a) If the articles of incorporation or bylaws of a corporation subject to this subchapter fail to state a price or method of determining a fixed price at which the corporation or its shareholders may purchase the shares of a deceased shareholder or a shareholder no longer qualified to own shares in the corporation, then the price for the shares shall be the book value as of the end of the month immediately preceding the death or disqualification of the shareholder.
(b) Book value shall be determined from the books and records of the corporation in accordance with the regular method of accounting used by the corporation.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-29-312
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:4-29-312
Source file: gov.ar.code.title.04.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 47b0268594d1fde6b460c357a2f170077a1bae6ff6605788e606ae479464c412
Source location: content.xml paragraph 19991
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4-29-312. Shares of deceased or disqualified shareholder — Price.
(a) If the articles of incorporation or bylaws of a corporation subject to this subchapter fail to state a price or method of determining a fixed price at which the corporation or its shareholders may purchase the shares of a deceased shareholder or a shareholder no longer qualified to own shares in the corporation, then the price for the shares shall be the book value as of the end of the month immediately preceding the death or disqualification of the shareholder.
(b) Book value shall be determined from the books and records of the corporation in accordance with the regular method of accounting used by the corporation.
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