§ 2-2-425 - Existing entities may participate. - Arkansas Statutes

2-2-425. Existing entities may participate.

(a) (1) By a majority vote of its stockholders or members, any corporation or association organized under previous existing statutes may be brought under the provisions of this subchapter by limiting its membership and adopting the other restrictions as provided in this subchapter.

(2) It shall make out in duplicate a statement signed and sworn to by its directors upon forms supplied by the Secretary of State to the effect that the corporation or association has by a majority vote of its stockholders or members decided to accept the benefits and be bound by the provisions of this subchapter.

(3) Articles of incorporation shall be filed as required in 2-2-408, except that they shall be signed by the members of the board of directors.

(b) The filing fee shall be the same as for filing an amendment to articles of incorporation.