Ark. Code Ann. § 23-18-302: Definitions

As used in this subchapter, unless the context otherwise requires:

(1) "Acquire" means and includes to construct or acquire by purchase, lease, devise, gift, or other mode of acquisition;

(2) "Board" means a board of directors of a corporation organized under this subchapter;

(3) "Corporation" means a corporation organized pursuant to the provisions of this subchapter;

(4) "Federal agency" includes the United States and any department, administration, commission, board, bureau, office, establishment, agency, authority, or instrumentality of the United States;

(5) "Member" means the incorporators of a corporation and each person thereafter lawfully admitted to membership therein;

(6) "Obligations" includes bonds, notes, debentures, interim certificates or receipts, and all other evidences of indebtedness issued by a corporation; and

(7) "Person" includes any natural person, firm, association, corporation, business trust, partnership, federal agency, state or political subdivision thereof, or any body politic.