{"data":{"id":"us-ar/ark.-code-ann.-4-27-603","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 4-27-603","heading":"Issued and outstanding shares.","body":"(a) A corporation may issue the number of shares of each class or series authorized by the articles of incorporation. Shares that are issued are outstanding shares until they are reacquired, redeemed, converted, or cancelled.\n(b) The reacquisition, redemption, or conversion of outstanding shares is subject to the limitations of subsection (c) of this section and to § 4-27-640.\n(c) At all times that shares of the corporation are outstanding, one or more shares that together have unlimited voting rights and one or more shares that together are entitled to receive the net assets of the corporation upon dissolution must be outstanding.","path":["Title 4 Business and Commercial Law","Subtitle 3. Corporations and Associations","Chapter 27 Business Corporation Act of 1987","Subchapter 6 — Shares and Distributions","Part A: Shares"],"source_url":"https://archive.org/download/gov.ar.code/release78.2020.11.06/gov.ar.code.title.04.odt","current_through":"2020-11-06","vintage":"Arkansas Code Release 78 (2020-11), retrieved 2026-09-17; absent from the newer snapshot, which serves other sections of this chapter, so it may since have been repealed or amended","retrieved_at":"2026-09-17T21:07:03Z","sha256":"b5be568c0bba18cead90d8440485ddf881bb2b03a2e6b95aece96aa4735ef21d","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-4-27-602","next":"us-ar/ark.-code-ann.-4-27-604"},"notice":"GroundRules: Original legal text. Not legal advice."}