Arkansas § 4-27-304 - Ultra vires.
Full text of Arkansas Arkansas Code of 1987 Annotated § 4-27-304 — Ultra vires., with citation guidance and answers to common questions.
§ 4-27-304. Ultra vires.
Except as provided in subsection (b) of this section, the validity of corporate action may not be challenged on the ground that the corporation lacks or lacked power to act. A corporation's power to act may be challenged: in a proceeding by a shareholder against the corporation to enjoin the act; in a proceeding by the corporation, directly, derivatively, or through a receiver, trustee, or other legal representative, against an incumbent or former director, officer, employee, or agent of the corporation; or in a proceeding by the Attorney General under § 4-27-1430. In a shareholder's proceeding under subsection (b)(1) of this section to enjoin an unauthorized corporate act, the court may enjoin or set aside the act, if equitable and if all affected persons are parties in the proceeding, and may award damages for loss (other than anticipated profits) suffered by the corporation or another party because of enjoining the unauthorized act.
Source: official Arkansas text · Last verified 2026-08-27
Frequently Asked Questions About Arkansas § 4-27-304
What does Arkansas Code of 1987 Annotated § 4-27-304 cover?
Section 4-27-304 ("Ultra vires.") is part of the Arkansas Code of 1987 Annotated, the codified statutory law of Arkansas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arkansas § 4-27-304?
A common citation format is "Arkansas Code of 1987 Annotated § 4-27-304" (Arkansas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arkansas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arkansas official source linked on this page or consult a licensed Arkansas attorney.
How does Arkansas § 4-27-304 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arkansas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arkansas.