Statutes > Arkansas Statutes > Title 4 - Business and Commercial Law > Subtitle 3 - Corporations And Associations > Chapter 28 - Nonprofit Organizations > Subchapter 2 - Arkansas Nonprofit Corporation Act > § 4-28-219 - Shares of stock and dividends prohibited.

§ 4-28-219 - Shares of stock and dividends prohibited.

4-28-219. Shares of stock and dividends prohibited.

(a) A corporation shall not have or issue shares of stock.

(b) No dividend shall be paid and no part of the income of a corporation shall be distributed to its members, directors, or officers.