Browse Arkansas Code titles and sections
4-36-106. Termination of status.
Arkansas Code — all titles (historical 2020) · legal_authorities
4-36-106. Termination of status.
(a) A benefit corporation may end its benefit corporation status and not be subject to this chapter by amending its articles of incorporation to delete the statement in the articles of incorporation required by § 4-36-104 or § 4-36-105 to be stated in the articles of incorporation of a benefit corporation.
(b) To be effective, the amendment shall be adopted by at least the minimum status vote.
(c) If a merger or conversion would have the effect of terminating the status of a business corporation as a benefit corporation, to be effective, the merger or conversion shall be approved by at least the minimum status vote.
(d) A sale, lease, exchange, or other disposition of all or a substantial part of the assets of a benefit corporation, unless the transaction is in the usual and regular course of business, shall not be effective unless the transaction is approved by at least the minimum status vote.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-36-106
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:4-36-106
Source file: gov.ar.code.title.04.odt
Pages: Not recorded – Not recorded
Passage SHA-256: c409f1e4bd13ad527f3d903ecc7db951420ea072f86068af083ad3f7609146b9
Source location: content.xml paragraph 24712
Stored source content
4-36-106. Termination of status.
(a) A benefit corporation may end its benefit corporation status and not be subject to this chapter by amending its articles of incorporation to delete the statement in the articles of incorporation required by § 4-36-104 or § 4-36-105 to be stated in the articles of incorporation of a benefit corporation.
(b) To be effective, the amendment shall be adopted by at least the minimum status vote.
(c) If a merger or conversion would have the effect of terminating the status of a business corporation as a benefit corporation, to be effective, the merger or conversion shall be approved by at least the minimum status vote.
(d) A sale, lease, exchange, or other disposition of all or a substantial part of the assets of a benefit corporation, unless the transaction is in the usual and regular course of business, shall not be effective unless the transaction is approved by at least the minimum status vote.
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Arkansas Code — all titles (historical 2020) · legal_authorities
4-36-104. Formation — Fees.
(a) A benefit corporation shall be formed under the Arkansas Business Corporation Act of 1987, § 4-27-101 et seq., and its articles of incorporation shall state that it is a benefit corporation.
(b) The Secretary of State shall collect filing fees, service fees, and fees for copying when documents are delivered to him or her to be filed under this subchapter and under § 4-27-122.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-36-104
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 4-36-104. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
4-36-105. Election of status.
(a) An existing business corporation may become a benefit corporation under this chapter by amending its articles of incorporation so that they contain, in addition to the requirements of § 4-27-202, a statement that the corporation is a benefit corporation.
(b) To be effective, an amendment shall be adopted by at least the minimum status vote.
(c) If an entity is not a benefit corporation but is a constituent corporation or organization in a merger or conversion with a benefit corporation, the merger or conversion shall be approved by at least the minimum status vote.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-36-105
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 4-36-105. This identifies an authority to review, not proof of applicability.