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AR SB653
Bill
Status
10/15/2021
Primary Sponsor
Greg Leding
Click for details
AI Summary
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Requires at least two-fifths (2/5) of corporate board directors to be elected by employees using an election process under Arkansas Code § 4-26-802
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Requires at least two-fifths (2/5) of corporate board directors to be elected by employees using an election process under Arkansas Code § 4-27-803
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Grants employee-elected directors the same rights, powers, duties, and responsibilities as stockholder-elected directors
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Applies only to corporations with more than $50,000,000 in gross receipts in a taxable year
Legislative Description
To Amend Business Corporation Law; To Modify The Arkansas Business Corporation Act Of 1987; And To Ensure Fair Worker Representation On A Corporate Board Of Directors.
Last Action
Died in Senate Committee at Sine Die adjournment.
10/15/2021