Shares of stock and dividends prohibited

  1. Law
  2. Arkansas Code
  3. Business and Commercial Law
  4. Corporations and Associations
  5. Nonprofit Organizations
  6. Arkansas Nonprofit Corporation Act
  7. Shares of stock and dividends prohibited

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  1. (a) A corporation shall not have or issue shares of stock.

  2. (b) No dividend shall be paid and no part of the income of a corporation shall be distributed to its members, directors, or officers.


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