{"data":{"id":"us-ar/ark.-code-ann.-4-28-629","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 4-28-629","heading":"Winding up and termination","body":"Winding up and termination of an unincorporated nonprofit association must proceed in accordance with the following rules: (1) All known debts and liabilities must be paid or adequately provided for. (2) Any property subject to a condition requiring return to the person designated by the donor must be transferred to that person. (3) Any property subject to a trust must be distributed in accordance with the trust agreement. (4) Any remaining property must be distributed as follows: (A) as required by law other than this subchapter that requires assets of an association to be distributed to another person with similar nonprofit purposes; (B) in accordance with the association's governing principles or in the absence of applicable governing principles, to the members of the association per capita or as the members direct; or (C) if neither subparagraph (A) nor (B) applies, under the Unclaimed Property Act, § 18-28-201 et seq. Acts 2011, No. 202, § 2.\n\nWinding up and termination of an unincorporated nonprofit association must proceed in accordance with the following rules:\n\n(1) All known debts and liabilities must be paid or adequately provided for.\n\n(2) Any property subject to a condition requiring return to the person designated by the donor must be transferred to that person.\n\n(3) Any property subject to a trust must be distributed in accordance with the trust agreement.\n\n(4) Any remaining property must be distributed as follows: (A) as required by law other than this subchapter that requires assets of an association to be distributed to another person with similar nonprofit purposes; (B) in accordance with the association's governing principles or in the absence of applicable governing principles, to the members of the association per capita or as the members direct; or (C) if neither subparagraph (A) nor (B) applies, under the Unclaimed Property Act, § 18-28-201 et seq.\n\n(A) as required by law other than this subchapter that requires assets of an association to be distributed to another person with similar nonprofit purposes;\n\n(B) in accordance with the association's governing principles or in the absence of applicable governing principles, to the members of the association per capita or as the members direct; or\n\n(C) if neither subparagraph (A) nor (B) applies, under the Unclaimed Property Act, § 18-28-201 et seq.","path":["AR Code","Title 4","Chapter 28","Subchapter 6"],"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":"edce4062fcb721d062e39152f510c696a167d611dedb4c3333d4ce1aba52c348","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-4-28-628","next":"us-ar/ark.-code-ann.-4-28-630"},"notice":"GroundRules: Original legal text. Not legal advice."}