{"data":{"id":"us-ar/ark.-code-ann.-15-4-509","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 15-4-509","heading":"Corporate powers","body":"Each corporation organized under this act shall have power:\n\n(1) To sue and be sued, complain, and defend in its corporate name;\n\n(2) To have perpetual succession, unless a limited period of duration is stated in its articles of incorporation;\n\n(3) To adopt a corporate seal, which may be altered at pleasure, and to use it, or a facsimile thereof as required by law;\n\n(4) To encourage and promote the economic, agricultural, and industrial development of its city, town, or county;\n\n(5) To purchase, receive, lease as lessee or in any other manner acquire, own, hold, maintain, sell, exchange, and use any and all real and personal property, or any interest therein;\n\n(6) In the manner hereinafter provided, to borrow money and otherwise contract indebtedness, to issue its bonds or other obligations therefor, and to secure the payment thereof by mortgage, pledge, or a deed of trust of all or any part of its property, assets, revenues, or income;\n\n(7) To sell and convey, mortgage, pledge, lease as lessor, and otherwise dispose of all or any part of its property and assets;\n\n(8) To accept gifts or grants of money, service, or property, real or personal;\n\n(9) To make any and all contracts necessary or convenient for the exercise of the powers granted in this act;\n\n(10) To conduct its business and have officers within or without the state;\n\n(11) To elect or appoint officers, agents, and employees of the corporation and to define their duties and fix their compensation;\n\n(12) To make and alter bylaws not inconsistent with the articles of incorporation or with the laws of this state for the administration and regulation of the affairs of the corporation; and\n\n(13) To do and perform any and all acts and things and to have and exercise any and all powers as may be necessary, convenient, or appropriate to effectuate the purpose for which the corporation is organized.","path":["AR Code","Title 15","Chapter 4","Subchapter 5"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_ar_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-17","retrieved_at":"2026-09-17T21:35:43Z","sha256":"7306e42f3e2ca9b9d5ca870e95fc309cf072ccabb975b52b5bbeea4598006824","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-15-4-508","next":"us-ar/ark.-code-ann.-15-4-510","notices":[{"id":"open-us-law","title":"Open US Law compilation","text":"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.","url":"https://huggingface.co/datasets/vaquill/open-us-law","license_url":"https://creativecommons.org/licenses/by/4.0/"},{"id":"pro-ar","title":"Arkansas Release 78 supplement","text":"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.","url":"https://archive.org/details/gov.ar.code"}]},"notice":"GroundRules: Original legal text. Not legal advice."}