Arkansas § 4-27-1201 Sale of assets in regular course of business and mortgage of assets

Arkansas Statutes

§ 4-27-1201 — Sale of assets in regular course of business and mortgage of assets

Arkansas § 4-27-1201

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This text of Arkansas § 4-27-1201 (Sale of assets in regular course of business and mortgage of assets) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 4-27-1201 (2026).

Text

(a)A corporation may, on the terms and conditions and for the consideration determined by the board of directors:

(1)sell, lease, exchange, or otherwise dispose of all, or substantially all, of its property in the usual and regular course of business;

(2)mortgage, pledge, dedicate to the repayment of indebtedness (whether with or without recourse), or otherwise encumber any or all of its property whether or not in the usual and regular course of business; or (3) transfer any or all of its property to a corporation all the shares of which are owned by the corporation.

(b)Unless the articles of incorporation or another provision of this chapter so require, approval by the shareholders of a transaction described in subsection (a) of this section is not required.

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(a) A corporation may, on the terms and conditions and for the consideration determined by the board of directors: (1) sell, lease, exchange, or otherwise dispose of all, or substantially all, of its property in the usual and regular course of business; (2) mortgage, pledge, dedicate to the repayment of indebtedness (whether with or without recourse), or otherwise encumber any or all of its property whether or not in the usual and regular course of business; or (3) transfer any or all of its property to a corporation all the shares of which are owned by the corporation. (b) Unless the articles of incorporation or another provision of this chapter so require, approval by the shareholders of a transaction described in subsection (a) of this section is not required.