Application of chapter

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  1. (a) This chapter shall apply to all benefit corporations.

  2. (b) This chapter does not imply that a contrary statute or rule of law applies to a business corporation that is not a benefit corporation.

  3. (c)

    1. (1) Except as otherwise provided in this chapter, the Arkansas Business Corporation Act of 1987, § 4-27-101 et seq., is generally applicable to a benefit corporation.

    2. (2) Specific provisions of this chapter shall control over the general provisions of the Arkansas Business Corporation Act of 1987, § 4-27-101 et seq.

    3. (3) A benefit corporation may be simultaneously subject to this chapter and other statutes that provide for the incorporation of a specific type of business corporation.

  4. (d) The articles of incorporation or bylaws of a benefit corporation shall not limit, relax, be inconsistent with, or supersede this chapter.


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