Most Arkansas HOAs are nonprofit corporations under the Arkansas Nonprofit Corporation Act of 1993 (Ark. Code § 4-33-101 et seq.). It requires a corporation with members to hold an annual meeting (§ 4-33-701) and gives members a right to inspect corporate records (§ 4-33-1602), but it does NOT mandate open board meetings.
With no comprehensive HOA act, board procedure for most associations flows from the Nonprofit Corporation Act of 1993 plus the bylaws. Section 4-33-701 provides that 'a corporation with members shall hold a membership meeting annually,' while noting that failure to hold it 'does not affect the validity of any corporate action.' Under §§ 4-33-1601 to 4-33-1602 members may inspect and copy corporate records — minutes, accounting records, and the membership list — on a good-faith, proper-purpose written demand. The Act does not require open board meetings. For condominiums, Ark. Code § 18-13-108 requires bylaws fixing who presides and keeps minutes and a 51% threshold to adopt decisions; § 18-13-110 lets co-owners examine the receipts-and-expenditures book.
No specific statutory penalty. A member denied a required annual meeting or wrongfully refused record inspection may petition a court to compel the meeting or inspection under the Nonprofit Corporation Act, and may recover costs in a successful records action.
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