{"data":{"id":"us-ar/ark.-code-ann.-4-33-304","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 4-33-304","heading":"Ultra vires","body":"(a) Except as provided in subsection (b) of this section, the validity of corporate action may not be challenged on the ground that the corporation lacks or lacked power to act.\n\n(b) A corporation's power to act may be challenged in a proceeding against the corporation to enjoin an act where a third party has not acquired rights. The proceeding may be brought by the Attorney General, a director, or by a member or members in a derivative proceeding.\n\n(c) A corporation's power to act may be challenged in a proceeding against an incumbent or former director, officer, employee or agent of the corporation. The proceeding may be brought by a director, the corporation, directly, derivatively, or through a receiver, a trustee or other legal representative, or in the case of a public benefit corporation, by the Attorney General.","path":["AR Code","Title 4","Chapter 33","Subchapter 3"],"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":"06e2d5b0d00f168198e97377bb57773109b877ab5db41189a7ea20bf02e00a7d","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-4-33-303","next":"us-ar/ark.-code-ann.-4-33-401"},"notice":"GroundRules: Original legal text. Not legal advice."}