§ 4-28-222 - Involuntary dissolution. - Arkansas Statutes

4-28-222. Involuntary dissolution.

A corporation incorporated under the provisions of 4-28-201 -- 4-28-206 and 4-28-209 -- 4-28-224 may be dissolved involuntarily by a decree of the Pulaski County Circuit Court in an action filed by the Attorney General or by a decree of the circuit court of the county in which that corporation is domiciled in an action filed by the prosecuting attorney when it is established that:

(1) The corporation procured its articles of incorporation through fraud;

(2) The corporation has continued to exceed or abuse the authority conferred upon it by law;

(3) The corporation has failed for ninety (90) days to appoint and maintain a registered agent in this state;

(4) The corporation has failed to keep proper accounting records as provided in 4-28-201 -- 4-28-206 and 4-28-209 -- 4-28-224;

(5) The corporation constitutes a public nuisance; or

(6) The corporation has violated the laws of this state or the rules and regulations of any state regulatory board or commission having jurisdiction of any activity of the corporation.