Arkansas Code Annotated
Ark. Code Ann. § 4-27-622 (2026)
Liability of shareholders
✓ current as of May 2026
- A purchaser from a corporation of its own shares is not liable to the corporation or its creditors with respect to the shares except to pay the full consideration, fixed as provided by law, for which the shares were issued or were to be issued.
- Unless otherwise provided in the articles of incorporation, a shareholder of a corporation is not personally liable for the acts or debts of the corporation except that he may become personally liable by reason of his own acts or conduct.
History. Acts 1987, No. 958, § 64-607.
Case Notes
Shareholder Not Liable.
Because the television network failed to allege any facts that would make the communications company liable for the broadcasting company's obligations under an intellectual property agreement, the district court properly dismissed the television network's claim against the communications company. Retro TV Network, Inc. v. Luken Communs., LLC, 696 F.3d 766 (8th Cir. 2012).
Notes of Decisions
Cited in 2
cases, 2008–2019 · leading case: Scott v. Cent. Arkansas Nursing Centers, Inc., 278 S.W.3d 587 (Ark. Ct. App. 2008).
Scott v. Cent. Arkansas Nursing Centers, Inc., 278 S.W.3d 587 (Ark. Ct. App. 2008). “Ark. Code Ann. § 4-27-622 (b) (Repl. 2001).”
Jones v. Ipawn Rodney Parham, LLC, 364 F. Supp. 3d 953 (E.D. Ark. 2019). “3d at 596 (examining Ark. Code Ann. § 4-27-622 (b) ). In contrast, in Roggasch v.”
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