Ark. Code Ann. § 15-4-408
This is the official text of Ark. Code Ann. § 15-4-408, 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.
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Prerequisites to issuance
Official statutory text
Before the Arkansas Economic Development Council shall issue its revenue bonds, the council, acting through the Division of Minority Business Enterprise of the Arkansas Economic Development Commission, shall have received from small business investment companies in this state binding commitments to make business loans to small business concerns, as defined in this subchapter, to sell small business loans to the division or to engage in specific small business concern loan activities, as authorized in this subchapter. Acts 1985, No. 869, § 5; A.S.A. 1947, § 9-573.
Before the Arkansas Economic Development Council shall issue its revenue bonds, the council, acting through the Division of Minority Business Enterprise of the Arkansas Economic Development Commission, shall have received from small business investment companies in this state binding commitments to make business loans to small business concerns, as defined in this subchapter, to sell small business loans to the division or to engage in specific small business concern loan activities, as authorized in this subchapter.
Acts 1985, No. 869, § 5; A.S.A. 1947, § 9-573.
Before the Arkansas Economic Development Council shall issue its revenue bonds, the council, acting through the Division of Minority Business Enterprise of the Arkansas Economic Development Commission, shall have received from small business investment companies in this state binding commitments to make business loans to small business concerns, as defined in this subchapter, to sell small business loans to the division or to engage in specific small business concern loan activities, as authorized in this subchapter.
Acts 1985, No. 869, § 5; A.S.A. 1947, § 9-573.
Status: in_force
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