HB2087 Summary

• Amends Arkansas Code to expand the purposes and powers available to cooperative corporations and associations, removing restrictions on business types they may conduct.

• Eliminates the previous restriction that limited cooperative corporations to a maximum 50-year duration, allowing them to continue perpetually if chosen.

• Removes the requirement that cooperative corporations conduct business "on the cooperative plan," broadening the types of business activities permitted.

• Authorizes cooperative corporations to purchase and hold stock, memberships, and interests in other corporations and associations beyond what was previously allowed.

• Establishes legislative findings that cooperative deregulation will attract capital investment to rural and struggling Arkansas communities and enable entrepreneurship and job creation.