{"data":{"id":"us-ar/ark.-code-ann.-23-69-127","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 23-69-127","heading":"Consideration for stock","body":"(a) Shares of stock of a domestic stock insurer shall be issued for a consideration having a value in the judgment of the insurer's board of directors of not less than the par value of the stock so issued.\n\n(b) In the absence of fraud, or willful over-valuation or under-valuation in the transaction, the judgment of the directors as to the value of any consideration shall be conclusive.","path":["AR Code","Title 23","Chapter 69","Subchapter 1"],"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":"11d51f17c48ec8bff821c0f8ccaa20d12b17dbe3b3f2ac664206a0df2bb71d29","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-23-69-126","next":"us-ar/ark.-code-ann.-23-69-128","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."}