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Current as of March 28, 2024 | Updated by Findlaw Staff
(a) Each nonprofit domestic corporation, nonprofit foreign corporation, and nonprofit corporation organized under § 4-28-101 et seq., authorized to transact business in this state shall annually file with the Secretary of State by August 1 a statement that sets forth:
(1) The name of the corporation;
(2) The corporation's jurisdiction of incorporation;
(3) The name and address of the corporation's registered agent for service of process;
(4) The address of the corporation's principal office;
(5) The names of the corporation's principal officers; and
(6) The names and addresses of the corporation's directors.
(b) If on or before January 31 of each year, a nonprofit domestic corporation, nonprofit foreign corporation, or nonprofit corporation organized under § 4-28-101 et seq. has not filed an annual disclosure statement, the Secretary of State shall proclaim:
(1) The corporate charter or authority of the nonprofit domestic corporation, nonprofit foreign corporation, or nonprofit corporation organized under § 4-28-101 et seq. as not current; and
(2) That, according to the Secretary of State's records, the nonprofit domestic corporation, nonprofit foreign corporation, or nonprofit corporation organized under § 4-28-101 et seq. is delinquent in the filing of the annual disclosure statement for the prior year.
(c)(1) A nonprofit domestic corporation, nonprofit foreign corporation, or nonprofit corporation organized under § 4-28-101 et seq. whose charter or authority to do business in this state is declared not current under subdivision (b)(1) of this section, shall be reinstated to all rights, powers, and property after the nonprofit domestic corporation, nonprofit foreign corporation, or nonprofit corporation organized under § 4-28-101 et seq. files an annual disclosure statement for the previous four (4) years that were delinquent.
(2) The annual disclosure statement shall be satisfactory to the Secretary of State.
(3) Reinstatement of the nonprofit domestic corporation, nonprofit foreign corporation, or nonprofit corporation organized under § 4-28-101 et seq. under subdivision (c)(1) of this section shall be retroactive to the time that the nonprofit domestic corporation's, nonprofit foreign corporation's, or nonprofit corporation's authority to do business in this state was declared as not current.
(d)(1) Reinstatement under subsection (c) of this section shall not be allowed after five (5) years from the date the charter or authority to do business in this state was declared not current under subdivision (b)(1) of this section.
(2) After five (5) years, the nonprofit domestic corporation, nonprofit foreign corporation, or nonprofit corporation organized under § 4-28-101 et seq. shall be statutorily dissolved and the nonprofit domestic corporation, nonprofit foreign corporation, or nonprofit corporation organized under § 4-28-101 et seq. name shall become available immediately for use by another entity if deemed available by the Secretary of State.
Cite this article: FindLaw.com - Arkansas Code Title 4. Business and Commercial Law § 4-33-131. Annual disclosure of information - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-4-business-and-commercial-law/ar-code-sect-4-33-131/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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