§ 23-111-402 - Definition. - Arkansas Statutes

23-111-402. Definition.

For the purposes of 23-111-401, 23-111-403 -- 23-111-405, and 23-111-407 -- 23-111-409, "principal stockholder" means every stockholder, either individual, partnership, association, or corporation, owning or having control of ten percent (10%) or more of the outstanding stock of a corporation which is an applicant for, or holder of, a franchise to conduct dog racing in this state.