(a) All corporate powers shall be exercised by or under the authority of, and the business and affairs of a corporation shall be managed under the direction of, its board of directors, subject to any limitation set forth in the articles of incorporation.
(b) Directors need not be residents of this state or shareholders of the corporation unless the articles of incorporation or bylaws so require. The articles of incorporation or bylaws may prescribe other qualifications for directors.
(c) The board of directors shall have authority to fix the compensation of directors unless otherwise provided in the articles of incorporation.
(d) Directors may not vote by proxy.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 3 - Corporations and Associations
Chapter 26 - Business Corporations Generally
Subchapter 8 - Directors and Officers
§ 4-26-801. Board of directors generally
§ 4-26-802. Number, election, and term of directors
§ 4-26-804. Removal of directors
§ 4-26-805. Directors' meetings
§ 4-26-806. Quorum of directors
§ 4-26-807. Action of board with or without meeting
§ 4-26-808. Executive committee
§ 4-26-810. Emergency bylaws — Operations during emergency
§ 4-26-811. Liability of directors
§ 4-26-813. Removal of officers
§ 4-26-814. Indemnification of officers, directors, employees, and agents