Definition.
Ark. Code Ann. § 23-111-402
in effectFor 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.
Source: Public.Resource.Org / UniCourt, Official Code of Arkansas Annotated, Release 78 (2020) (unicourt.github.io/cic-code-ar)URL: https://unicourt.github.io/cic-code-ar/transforms/ar/ocar/r78/gov.ar.code.title.23.htmlFetched: 11/8/2026