(a) The appointment of an officer does not itself create contract rights.
(b) An officer's removal does not affect the officer's contract rights, if any, with the corporation. An officer's resignation does not affect the corporation's contract rights, if any, with the officer.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 3 - Corporations and Associations
Chapter 27 - Business Corporation Act of 1987
Subchapter 8 - Directors — Officers — Meetings — Standards of Conduct — Indemnification
§ 4-27-841. Duties of officers
§ 4-27-842. Standards of conduct for officers
§ 4-27-843. Resignation and removal of officers
§ 4-27-844. Contract rights of officers
§ 4-27-850. Indemnification of officers, directors, employees, and agents — Insurance