(a) A corporation may pay compensation in a reasonable amount to its members, directors, or officers for services rendered and may confer benefits upon its members in conformity with its purposes.
(b) A corporation may make reimbursement to its members, directors, officers, or employees for expenses incurred in attending to their authorized duties, the expenses to be evidenced by receipt or other proper document.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 3 - Corporations and Associations
Chapter 28 - Nonprofit Organizations
Subchapter 2 - Arkansas Nonprofit Corporation Act
§ 4-28-203. Applicability of subchapter
§ 4-28-204. Effect on preexisting corporations
§ 4-28-206. Articles of incorporation generally
§ 4-28-208. Private foundations — Amendment of articles of incorporation by operation of law
§ 4-28-211. Board of directors
§ 4-28-214. Registered agent — Service of process
§ 4-28-215. Compensation and reimbursement to members, directors, officers, etc
§ 4-28-216. Powers of Secretary of State
§ 4-28-217. Rules by state agencies applicable
§ 4-28-218. Books and accounting records
§ 4-28-219. Shares of stock and dividends prohibited
§ 4-28-220. Loans to directors and officers prohibited
§ 4-28-221. Admission of foreign corporation
§ 4-28-222. Involuntary dissolution
§ 4-28-223. Fees to be paid to Secretary of State