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Arkansas Code Title 4. Business and Commercial Law § 4-33-701. Membership meetings

Current as of March 28, 2024 | Updated by Findlaw Staff

(a) A corporation with members shall hold a membership meeting annually at a time stated in or fixed in accordance with the bylaws.

(b) A corporation with members may hold regular membership meetings at times stated in or fixed in accordance with the bylaws.

(c) Annual and regular membership meetings may be held in or out of this state at the place stated in or fixed in accordance with the bylaws. If no place is stated in or fixed in accordance with the bylaws, annual and regular meetings shall be held at the corporation's principal office.

(d) At the annual meeting:

(1) The president and chief financial officer shall report on the activities and financial condition of the corporation; and

(2) The members shall consider and act upon such other matters as may be raised consistent with the notice requirements of § 4-33-705.

(e) At regular meetings the members shall consider and act upon such matters as may be raised consistent with the notice requirements of § 4-33-705.

(f) The failure to hold an annual or regular meeting at a time stated in or fixed in accordance with a corporation's bylaws does not affect the validity of any corporate action.

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Cite this article: FindLaw.com - Arkansas Code Title 4. Business and Commercial Law § 4-33-701. Membership meetings - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-4-business-and-commercial-law/ar-code-sect-4-33-701/

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