§ 15-4-1012 - Commencement of existence. - Arkansas Statutes

15-4-1012. Commencement of existence.

(a) Upon the issuance of the certificate of organization by the Bank Commissioner, the existence of the capital development company shall begin.

(b) The certificate of organization shall be conclusive evidence, except as against the state, that all conditions precedent required to be performed by the applicant have been complied with and that the capital development company has been organized under this subchapter and the applicable business law under which it was formed.

(c) A copy of the articles so endorsed by the commissioner as prescribed by 15-4-1011 shall be filed for recordation in the office of the Secretary of State.