{"data":{"id":"us-ar/ark.-code-ann.-4-33-833","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 4-33-833","heading":"Liability for unlawful distributions.","body":"(a) Unless a director complies with the applicable standards of conduct described in § 4-33-830, a director who votes for or assents to a distribution made in violation of this chapter is personally liable to the corporation for the amount of the distribution that exceeds what could have been distributed without violating this chapter.\n(b) A director held liable for an unlawful distribution under subsection (a) of this section is entitled to contribution:\n(1) from every other director who voted for or assented to the distribution without complying with the applicable standards of conduct described in § 4-33-830; and\n(2) from each person who received an unlawful distribution for the amount of the distribution whether or not the person receiving the distribution knew it was made in violation of this chapter.","path":["Title 4 Business and Commercial Law","Subtitle 3. Corporations and Associations","Chapter 33 The Arkansas Nonprofit Corporation Act of 1993","Subchapter 8 — Directors and Officers","Part C — Standards of Conduct"],"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2026-09-17; absent from the newer snapshot, which serves other sections of this chapter, so it may since have been repealed or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":"ae49e59b7e4706299e05ca8434b4fb52af1afe7d529544676ed3925cace50a4f","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-4-33-832","next":"us-ar/ark.-code-ann.-4-33-840"},"notice":"GroundRules: Original legal text. Not legal advice."}