Ark. Code Ann. § 23-111-402: Definition

For the purposes of §§ 23-111-401 , 23-111-403 - 23-111-405 , and 23-111-407 - 23-111-409 , "principal stockholder" means every stockholder, either individual, partnership, association, or corporation, owning or having control of ten percent (10%) or more of the outstanding stock of a corporation which is an applicant for, or holder of, a franchise to conduct dog racing in this state.