Statutes, codes, and regulations
Arkansas Code of 1987
Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENTSubtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLYChapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY
Subchapter 12 - COUNTY AND REGIONAL INDUSTRIAL DEVELOPMENT COMPANY ACT
Section 15-4-1207 - Liability of directors, officers, managers, and members

Ark. Code § 15-4-1207

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Current with legislation from 2024 Fiscal and Special Sessions.
Section 15-4-1207 - Liability of directors, officers, managers, and members

The directors and officers of a corporation organized under the provisions of this subchapter and the managers and members of a limited liability company organized under the provisions of this subchapter shall not be responsible for losses of assets of the company unless the losses shall have been occasioned by the willful misconduct of such directors, officers, managers, or members.

Ark. Code § 15-4-1207

Acts 1991, No. 1029, § 14; 1999, No. 37, § 6.