TO CLARIFY THE DEFINITION OF "PRINCIPAL OFFICE" USED UNDER THE ARKANSAS BUSINESS CORPORATION ACT OF 1987 AND THE UNIFORM LIMITED LIABILITY COMPANY ACT.

Senate Bill 552 clarifies the definition of "principal office" for corporations and limited liability companies (LLCs) operating in Arkansas. It specifies that a principal office is primarily the location of a company's principal executive offices, as designated in their annual franchise tax report. If a company does not have such an office, it may designate the address of its registered agent as the principal office. In such cases, the company must also provide the Arkansas Secretary of State with the physical address of a named officer, director, member, or manager.