All business corporations, railroad corporations, banking corporations, insurance corporations, building and loan corporations, benevolent corporations, and cooperative associations shall have the power to make donations for the public welfare or for charitable, scientific, or educational purposes, subject to such limitations, if any, as may be contained in its articles of incorporation or any amendment thereto.Acts 1951, No. 69, § 1; A.S.A. 1947, § 64-1101.
Arkansas Legal Code