{"data":{"id":"us-ar/ark.-code-ann.-4-27-622","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 4-27-622","heading":"Liability of shareholders.","body":"(a) A purchaser from a corporation of its own shares is not liable to the corporation or its creditors with respect to the shares except to pay the full consideration, fixed as provided by law, for which the shares were issued or were to be issued.\n(b) Unless otherwise provided in the articles of incorporation, a shareholder of a corporation is not personally liable for the acts or debts of the corporation except that he may become personally liable by reason of his own acts or conduct.","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 B: Issuance of 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2026-09-17; absent from the newer snapshot, which serves other sections of this chapter, so it may since have been repealed or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":"b9bb824846ba7478e5230b79f5590bef67226b8590b594f65651f29209b95a64","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-4-27-621","next":"us-ar/ark.-code-ann.-4-27-623"},"notice":"GroundRules: Original legal text. Not legal advice."}