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Arkansas Code Title 4. Business and Commercial Law § 4-38-1002. Relationship of subchapter to other laws

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

(a) This subchapter does not authorize an act prohibited by, and does not affect the application or requirements of, law other than this subchapter.

(b) A transaction effected under this subchapter may not create or impair a right, duty or obligation of a person under the statutory law of this state other than this subchapter relating to a change in control, takeover, business combination, control-share acquisition, or similar transaction involving a domestic merging, acquired, converting, or domesticating business corporation unless:

(1) if the corporation does not survive the transaction, the transaction satisfies any requirements of the law; or

(2) if the corporation survives the transaction, the approval of the plan is by a vote of the shareholders or directors which would be sufficient to create or impair the right, duty, or obligation directly under the law.

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Cite this article: FindLaw.com - Arkansas Code Title 4. Business and Commercial Law § 4-38-1002. Relationship of subchapter to other laws - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-4-business-and-commercial-law/ar-code-sect-4-38-1002/

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