Stricken language would be deleted from and underlined language would be added to present law.
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State of Arkansas 1
95th General Assembly A Bill 2
Regular Session, 2025 SENATE BILL 283 3
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By: Senators K. Hammer, A. Clark, J. English, Gilmore, M. Johnson, M. McKee, Stone 5
By: Representatives Beaty Jr., Bentley, Brooks, Childress, Furman, Hawk 6
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For An Act To Be Entitled 8
AN ACT TO AMEND THE LAW CONCERNING UNCLAIMED 9
PROPERTY; TO PROVIDE THAT CERTAIN NONPROFIT 10
ORGANIZATIONS ARE EXEMPT FROM THE LAW CONCERNING 11
UNCLAIMED PROPERTY; AND FOR OTHER PURPOSES. 12
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Subtitle 15
TO AMEND THE LAW CONCERNING UNCLAIMED 16
PROPERTY; AND TO PROVIDE THAT CERTAIN 17
NONPROFIT ORGANIZATIONS ARE EXEMPT FROM 18
THE LAW CONCERNING UNCLAIMED PROPERTY. 19
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BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: 21
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SECTION 1. Arkansas Code Title 18, Chapter 28, Subchapter 2, is 23
amended to add an additional section to read as follows: 24
18-28-232. Applicability — Definition. 25
(a) As used in this section, "nonprofit organization" means: 26
(1) A corporation governed by Arkansas Code Title 4, Chapter 28 27
or Title 4, Chapter 33 to extent that it is applicable to nonprofit 28
corporations; or 29
(2) An organization exempt from federal taxation as a nonprofit 30
entity under § 501(a) of the Internal Revenue Code, 26 U.S.C. § 501(a) or as 31
an exempt organization under §§ 501(c)(3), 501(c)(4), 501(c)(6), 501(c)(12), 32
or 501(c)(19) of the Internal Revenue Code, 26 U.S.C. § 501(c)(3), 26 U.S.C. 33
§ 501(c)(4), 26 U.S.C. § 501(c)(6), 26 U.S.C. § 501(c)(12), or 26 U.S.C. § 34
501(c)(19), as they existed on January 1, 2025. 35
(b) This subchapter does not apply to a nonprofit organization that 36 SB283
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has an annual revenue of less than five million dollars ($5,000,000). 1
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