Commission approval required for dispositions of outstanding securities issued by holding companies
Arkansas Constitution, Amendment 100, sec. 4
- (a) No person other than the issuer shall sell, assign, transfer, pledge, or make any other disposition of any interest in or security issued by any holding company without prior approval of the Arkansas Racing Commission.
- (b) As used herein, the terms “sale, assignment, transfer, pledge, or other disposition” extend to dispositions of any type of ownership referred to in this part.