Arkansas Code
Subchapter 4 - Officers, Directors, Stockholders, Etc., of Franchises
§ 23-111-402. Definition

For 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.

Structure Arkansas Code