(a) (1) The business and affairs of a corporation shall be managed by a board of directors, not fewer than three (3) in number, which shall exercise all the powers of the corporation, except such as are conferred upon the members by this subchapter, by the articles of incorporation, or by the bylaws of the […]
(a) Any corporation by its bylaws may provide for an executive committee to be elected from and by its board of directors. (b) The management of the current and ordinary business of the corporation and such other duties as the bylaws may prescribe may be delegated to the committee, but the designation of the committee […]
(a) The board may elect from its number a chair, a secretary, and such vice chairpersons as it deems necessary. The powers, duties, term of office, and compensation shall be provided for in the bylaws. (b) (1) The board may appoint a chief executive officer, president, or manager, a treasurer, who may be the same […]
(a) (1) Any two (2) or more corporations may enter into an agreement for the consolidation of the corporations. (2) The agreement shall set forth the terms and conditions of the consolidation, the name of the proposed consolidated corporation, the number of its directors, not fewer than three (3), the time of the annual meeting […]
(a) Any corporation may dissolve by majority vote of the members present in person or by proxy at any regular meeting or at any special meeting of its members called for that purpose. (b) A certificate of dissolution shall be signed by the president or vice president and attested by the secretary certifying to the […]
The Secretary of State shall charge and collect for: (1) Filing articles of incorporation and issuing a certificate of incorporation — ten dollars ($10.00); (2) Filing of articles of amendment and issuing a certificate of amendment — ten dollars ($10.00); (3) Filing articles of consolidation and issuing a certificate with respect to consolidation — ten […]
(a) Each corporation shall be operated without profit to its members, but the rates, fees, rents, or other charges for electric energy and any other facilities, supplies, equipment, or services furnished by the corporation shall be sufficient at all times: (1) To pay all operating and maintenance expenses necessary or desirable for the prudent conduct […]
Electric cooperative corporations organized and formed pursuant to this subchapter shall be subject to the provisions of the Arkansas Gross Receipts Act of 1941, § 26-52-101 et seq., and the Arkansas Compensating Tax Act of 1949, § 26-53-101 et seq.
Corporations formed pursuant to this subchapter shall pay annually, on or before July 1, to the Secretary of State a fee of ten dollars ($10.00) for each one hundred (100) members or fraction thereof.
Whenever any corporation organized under this subchapter shall have borrowed money from any federal agency, the obligations issued to secure the payment of such money shall be exempt from the provisions of the Arkansas Securities Act, § 23-42-101 et seq. The provisions of the Arkansas Securities Act, § 23-42-101 et seq., shall not apply to […]
(a) (1) The inclusion by incorporation, annexation, or otherwise of any portion of a rural area assigned to corporations within the limits of an incorporated or unincorporated city, town, or village, regardless of its population, shall not in any respect impair or affect the rights of the corporations under their certificates of convenience and necessity […]
