{"data":{"id":"us-ar/ark.-code-ann.-4-27-1201","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 4-27-1201","heading":"Sale of assets in regular course of business and mortgage of assets","body":"(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 business; (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 business; or (3) transfer any or all of its property to a corporation all the shares of which are owned by the corporation. (b) Unless the articles of incorporation or another provision of this chapter so require, approval by the shareholders of a transaction described in subsection (a) of this section is not required. Acts 1987, No. 958, § 64-1201.\n\n(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 business; (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 business; or (3) transfer any or all of its property to a corporation all the shares of which are owned by the corporation.\n\n(1) sell, lease, exchange, or otherwise dispose of all, or substantially all, of its property in the usual and regular course of business;\n\n(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 business; or\n\n(3) transfer any or all of its property to a corporation all the shares of which are owned by the corporation.\n\n(b) Unless the articles of incorporation or another provision of this chapter so require, approval by the shareholders of a transaction described in subsection (a) of this section is not required.","path":["AR Code","Title 4","Chapter 27","Subchapter 12"],"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 2026-09-14","retrieved_at":"2026-09-14T18:32:41Z","sha256":"982ef386fb239ae6cf07499ff596ce89d8fbe9035a26e42b9ea6e8119625d613","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-4-27-1111","next":"us-ar/ark.-code-ann.-4-27-1202"},"notice":"GroundRules: Original legal text. Not legal advice."}