§ 4-27-301 - Purposes. - Arkansas Statutes

4-27-301. Purposes.

(a) Every corporation incorporated under this chapter has the purpose of engaging in any lawful business unless a more limited purpose is specifically set forth in the articles of incorporation. A statement of a corporation's primary purpose or purposes made pursuant to 4-27-202(a)(5) shall not be construed as a specific limitation of the broad purposes for which the corporation may be organized.

(b) A corporation engaging in a business that is subject to regulation under another statute of this state may incorporate under this chapter only if permitted by, and subject to all limitations of, the other statute.