§ 15-4-1014 - Amendment to articles. - Arkansas Statutes

15-4-1014. Amendment to articles.

(a) A capital development company may amend its articles in accordance with the applicable business law under which it was formed or with the provisions of its governing documents.

(b) (1) Articles of amendment adopted in accordance with subsection (a) of this section shall be executed by the authorized officers of the company and filed with the Bank Commissioner for approval.

(2) The commissioner shall issue a certificate approving the articles of amendment if the articles of amendment do not violate this subchapter or other applicable law.

(3) An amendment is effective when the commissioner issues the certificate of approval.

(4) The company shall record the articles of amendment and the commissioner's certificate of approval in the same manner as the original articles.