Corporations may be organized under §§ 4-28-201 - 4-28-206 and 4-28-209 - 4-28-224 for any lawful purpose including, without being limited to any one (1) or more of the following purposes: charitable; benevolent; eleemosynary; educational; civic; patriotic; political; religious; social; fraternal; literary; cultural; athletic; scientific; agricultural; horticultural; animal husbandry; and professional, commercial, industrial, or trade association. However, labor unions, rural electric corporations, cooperative agricultural or marketing associations, etc., organized for either direct or indirect financial gain or advantage, and any cooperative associations coming within the purview of §§ 4-30-101 - 4-30-117, 4-30-201, 4-30-202, and 4-30-204 - 4-30-207 shall be governed by the particular acts applicable to such associations.Acts 1963, No. 176, § 4; A.S.A. 1947, § 64-1904.
Arkansas Legal Code