Arkansas Code
Subchapter 3 - Organization and Management Generally
§ 23-48-314. Preemptive rights of stockholders

(a) Unless otherwise provided by the articles of incorporation, every stockholder, upon the sale for cash of any new stock of the same class as that which he or she already holds, shall have the right to purchase his or her pro rata share thereof at a price not exceeding the price at which it may be offered to others, which price may be in excess of par.
(b)
(1) Where the articles of incorporation do not prohibit the preemptive rights, the terms and conditions of the rights, and the time limit fixed for the exercise thereof, may be prescribed in the articles of incorporation or, if not so prescribed in the articles of incorporation, then in the bylaws or in the resolution of the board of directors adopted in connection with the stock increase.
(2) Provided, however, that for all state banks chartered after May 30, 1997, there shall be no preemptive rights in stockholders except as specified in the articles of incorporation.

Structure Arkansas Code

Arkansas Code

Title 23 - Public Utilities and Regulated Industries

Subtitle 2 - Financial Institutions And Securities

Chapter 48 - Organization and Operation

Subchapter 3 - Organization and Management Generally

§ 23-48-301. Application for incorporation

§ 23-48-302. Organizational expenses

§ 23-48-303. Promoter's fees prohibited

§ 23-48-304. Investigation of new charter applications by Bank Commissioner

§ 23-48-305. Issuance and filing of certificate of incorporation

§ 23-48-306. Relocation of place of business — Amendment of articles

§ 23-48-307. Objects and method of charter amendment

§ 23-48-308. Filing of amendments to articles of incorporation

§ 23-48-309. Names of state banks and subsidiary trust companies

§ 23-48-310. Minimum capital requirements generally

§ 23-48-311. Increase or decrease of capital stock

§ 23-48-312. Liability of shareholders — Assessment of stock

§ 23-48-313. Classes of stock — Fractional shares — Scrip

§ 23-48-314. Preemptive rights of stockholders

§ 23-48-315. Issuance and sale of capital notes and other subordinated indebtedness

§ 23-48-316. Transfer of stock

§ 23-48-317. Change in control

§ 23-48-318. Stockholder meetings — Notice of special meeting

§ 23-48-319. Stockholder meetings — Notice of annual meeting

§ 23-48-320. Stockholder meetings — Quorum — Voting

§ 23-48-321. Closing transfer books — Fixing record date

§ 23-48-322. Board of directors — Standard of conduct

§ 23-48-323. Officers — Selection — Terms — Bonds

§ 23-48-324. Officers — Taking acknowledgments

§ 23-48-325. Banker's banks

§ 23-48-326. Application of Arkansas Business Corporation Act

§ 23-48-327. Registered office and registered agent for service of process