Ark. Code Ann. § 15-4-403
This is the official text of Ark. Code Ann. § 15-4-403, part of Arkansas’s Code Ann — part of the compiled statutory law of Arkansas, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Definitions
Official statutory text
As used in this subchapter: (1) "Council" means the Arkansas Economic Development Council; (2) "Division" means the Division of Minority Business Enterprise of the Arkansas Economic Development Commission; (3) "Small business concern" means small business firms in this state owned and operated by: (A) Socially and economically disadvantaged individuals who are qualified to receive federally secured loans through small business investment companies licensed by the United States Small Business Administration; and (B) Small business firms owned and operated by persons of limited financial means; and (4) "Small business investment company" means a small business investment company organized and chartered under the business corporation or nonprofit corporation statutes of this state or formed as a limited partnership for the purpose of making investment loans for capital improvements and expansion to persons whose participation in the free enterprise system is hampered because of social or economic disadvantages, as authorized in 15 U.S.C. § 681(d) [repealed], or because of limited financial means. Acts 1985, No. 869, § 3; A.S.A. 1947, § 9-571; Acts 1997, No. 540, §§ 26, 71.
As used in this subchapter:
(1) "Council" means the Arkansas Economic Development Council;
(2) "Division" means the Division of Minority Business Enterprise of the Arkansas Economic Development Commission;
(3) "Small business concern" means small business firms in this state owned and operated by: (A) Socially and economically disadvantaged individuals who are qualified to receive federally secured loans through small business investment companies licensed by the United States Small Business Administration; and (B) Small business firms owned and operated by persons of limited financial means; and
(A) Socially and economically disadvantaged individuals who are qualified to receive federally secured loans through small business investment companies licensed by the United States Small Business Administration; and
(B) Small business firms owned and operated by persons of limited financial means; and
(4) "Small business investment company" means a small business investment company organized and chartered under the business corporation or nonprofit corporation statutes of this state or formed as a limited partnership for the purpose of making investment loans for capital improvements and expansion to persons whose participation in the free enterprise system is hampered because of social or economic disadvantages, as authorized in 15 U.S.C. § 681(d) [repealed], or because of limited financial means.
Acts 1985, No. 869, § 3; A.S.A. 1947, § 9-571; Acts 1997, No. 540, §§ 26, 71.
As used in this subchapter:
(1) "Council" means the Arkansas Economic Development Council;
(2) "Division" means the Division of Minority Business Enterprise of the Arkansas Economic Development Commission;
(3) "Small business concern" means small business firms in this state owned and operated by: (A) Socially and economically disadvantaged individuals who are qualified to receive federally secured loans through small business investment companies licensed by the United States Small Business Administration; and (B) Small business firms owned and operated by persons of limited financial means; and
(A) Socially and economically disadvantaged individuals who are qualified to receive federally secured loans through small business investment companies licensed by the United States Small Business Administration; and
(B) Small business firms owned and operated by persons of limited financial means; and
(4) "Small business investment company" means a small business investment company organized and chartered under the business corporation or nonprofit corporation statutes of this state or formed as a limited partnership for the purpose of making investment loans for capital improvements and expansion to persons whose participation in the free enterprise system is hampered because of social or economic disadvantages, as authorized in 15 U.S.C. § 681(d) [repealed], or because of limited financial means.
Acts 1985, No. 869, § 3; A.S.A. 1947, § 9-571; Acts 1997, No. 540, §§ 26, 71.
Status: in_force
Need a lawyer in Arkansas?
Find a Arkansas lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.