Upon demand of one-third (1/3) of the entire board of directors, any matter that has been approved or passed by the board must be referred to the entire membership or the stockholders for decision at the next special or regular meeting. A special meeting may be called for that purpose.
Structure Arkansas Code
Subtitle 1 - General Provisions
Chapter 2 - Agricultural Cooperative Associations
Subchapter 4 - Marketing Associations
§ 2-2-405. Reasons for organizing
§ 2-2-408. Articles of incorporation
§ 2-2-409. Amendments to articles
§ 2-2-413. Regular and special meetings
§ 2-2-416. Removal of officer or director
§ 2-2-417. Certificates of membership or stock ownership
§ 2-2-418. Matters referred to entire membership
§ 2-2-419. Marketing contracts — Remedies
§ 2-2-420. Penalties for inducing breach of contract
§ 2-2-421. Exchange of shares for acquired interests
§ 2-2-423. Interest in other corporations
§ 2-2-424. Agreements with other associations
§ 2-2-425. Existing entities may participate
§ 2-2-426. Arrangements not in restraint of trade