Definitions.

Ark. Code Ann. § 23-18-302

in effect

As used in this subchapter, unless the context otherwise requires: (1) “Acquire” means and includes to construct or acquire by purchase, lease, devise, gift, or other mode of acquisition; (2) “Board” means a board of directors of a corporation organized under this subchapter; (3) “Corporation” means a corporation organized pursuant to the provisions of this subchapter; (4) “Federal agency” includes the United States and any department, administration, commission, board, bureau, office, establishment, agency, authority, or instrumentality of the United States; (5) “Member” means the incorporators of a corporation and each person thereafter lawfully admitted to membership therein; (6) “Obligations” includes bonds, notes, debentures, interim certificates or receipts, and all other evidences of indebtedness issued by a corporation; and (7) “Person” includes any natural person, firm, association, corporation, business trust, partnership, federal agency, state or political subdivision thereof, or any body politic.

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