{"data":{"id":"us-ar/ark.-code-ann.-4-27-623","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 4-27-623","heading":"Share dividends.","body":"(a) Unless the articles of incorporation provide otherwise, shares may be issued pro rata and without consideration to the corporation's shareholders or to the shareholders of one (1) or more classes or series. An issuance of shares under this subsection is a share dividend.\n(b) Shares of one class or series may not be issued as a share dividend in respect of shares of another class or series unless (1) the articles of incorporation so authorize, (2) a majority of the votes entitled to be cast by the class or series to be issued approve the issue, or (3) there are no outstanding shares of the class or series to be issued.\n(c) If the board of directors does not fix the record date for determining shareholders entitled to a share dividend, it is the date the board of directors authorizes the share dividend.","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2026-09-17; absent from the newer snapshot, which serves other sections of this chapter, so it may since have been repealed or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":"ddbf899455d5cd5f1db8ec21b69791bac786b46fd5b24cf2e44d9c246e6f9623","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-4-27-622","next":"us-ar/ark.-code-ann.-4-27-624"},"notice":"GroundRules: Original legal text. Not legal advice."}