(a) 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.
(b) 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.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 3 - Corporations and Associations
Chapter 27 - Business Corporation Act of 1987
Subchapter 6 - Shares and Distributions
§ 4-27-620. Subscription for shares before incorporation
§ 4-27-621. Issuance of shares
§ 4-27-622. Liability of shareholders
§ 4-27-625. Form and content of certificates
§ 4-27-626. Shares without certificates
§ 4-27-627. Restriction on transfer of shares and other securities