Arkansas Statutes
§ 23-69-127 — Consideration for stock
Arkansas·Title 23
(a)Shares of stock of a domestic stock insurer shall be issued for a consideration having a value in the judgment of the insurer's board of directors of not less than the par value of the stock so issued.
(b)In the absence of fraud, or willful over-valuation or under-valuation in the transaction, the judgment of the directors as to the value of any consideration shall be conclusive.
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Legislative History
Acts 1959, No. 148, § 480; A.S.A. 1947, § 66-4228.
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