This bill amends the Arkansas Business Corporation Act of 1987 and the Uniform Limited Liability Company Act to clarify the definition of "principal office." Under the new provisions, a "principal office" is defined as the location designated in the annual franchise tax report where the principal executive offices of a corporation or limited liability company are situated. If a corporation or limited liability company does not have a designated principal office, it may use the address of its registered agent as the principal office. Additionally, when using the registered agent's address, the corporation or limited liability company must provide the Secretary of State with the physical address of a named officer, director, member, or manager.

The amendments specifically introduce new language that allows for the designation of a registered agent's address as the principal office if no other principal office is designated. This change aims to provide greater flexibility for corporations and limited liability companies in Arkansas while ensuring that the Secretary of State has accurate contact information for key individuals associated with the entities.

Statutes affected:
SB 552: 4-27-140(17), 4-38-102(16)
Act 650: 4-27-140(17), 4-38-102(16)