GroundRules
Ark. Code Ann. § 4-33-1201: Sale of assets in regular course of activities and mortgage of assets
Where this section sits in the code
- AR Code
- Title 4
- Chapter 33
- Subchapter 12
(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 its activities; or (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 its activities. (b) Unless the articles require it, approval of the members or any other person of a transaction described in subsection (a) of this section is not required. Acts 1993, No. 1147, § 1201.
(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 its activities; or (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 its activities.
(1) sell, lease, exchange, or otherwise dispose of all, or substantially all, of its property in the usual and regular course of its activities; or
(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 its activities.
(b) Unless the articles require it, approval of the members or any other person of a transaction described in subsection (a) of this section is not required.
Collected 2026-09-17T21:35:43Z. Source file · JSON
Compilation CC BY 4.0, Open US Law (Vaquill AI). GroundRules uses only the releases published under CC BY 4.0: from v2026.09 the compilation is licensed CC BY-NC 4.0, and GroundRules does not use those releases. Each affected row names its release in its vintage label. GroundRules parsed and filtered the compilation to retain enacted text. Source · License
Arkansas electronic product files were republished by Public.Resource.Org under a public-domain mark. GroundRules uses enacted text from Release 78 only as a labeled supplement to the newer Open US Law rows. Source