§ 15-4-1019 - Authority of other corporations and financial institutions. - Arkansas Statutes

15-4-1019. Authority of other corporations and financial institutions.

(a) Notwithstanding any rule at common law or any provision of law or any provision in their respective articles of incorporation, all for-profit and nonprofit entities, including any public utility, company organized under the County and Regional Industrial Development Company Act, 15-4-1201 et seq., financial institution, pension fund, and all trusts, may acquire, purchase, hold, sell, assign, transfer, mortgage, pledge, or otherwise dispose of any bonds, notes, or other evidence of indebtedness created by, or the equity interests or other securities of, a capital development company.

(b) The owner of an equity interest or other security may exercise all the rights, powers, and privileges of ownership, including the right to vote.

(c) Any of the actions in subsection (a) or (b) of this section may be taken by the owner of an equity interest or other security without the approval of any regulatory authority of the state.