Ark. Code Ann. § 15-4-514
This is the official text of Ark. Code Ann. § 15-4-514, 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.
Authority to borrow money, issue bonds, etc
Official statutory text
(a) Each corporation organized under this act is authorized to borrow money and to issue negotiable coupon bonds, or notes, or other obligations for the payment thereof from corporate funds to carry out the purposes for which the corporation is organized. (b) However, no first lien bonds, notes, or other obligations shall be issued by any corporation organized under the provisions of this act for the purpose of purchasing any equipment or other personal property not used in manufacturing or processing operations. Acts 1955, No. 404, § 27; 1957, No. 47, § 5; 1968 (2nd Ex. Sess.), No. 11, § 2; A.S.A. 1947, § 9-530.
(a) Each corporation organized under this act is authorized to borrow money and to issue negotiable coupon bonds, or notes, or other obligations for the payment thereof from corporate funds to carry out the purposes for which the corporation is organized.
(b) However, no first lien bonds, notes, or other obligations shall be issued by any corporation organized under the provisions of this act for the purpose of purchasing any equipment or other personal property not used in manufacturing or processing operations.
Acts 1955, No. 404, § 27; 1957, No. 47, § 5; 1968 (2nd Ex. Sess.), No. 11, § 2; A.S.A. 1947, § 9-530.
(a) Each corporation organized under this act is authorized to borrow money and to issue negotiable coupon bonds, or notes, or other obligations for the payment thereof from corporate funds to carry out the purposes for which the corporation is organized.
(b) However, no first lien bonds, notes, or other obligations shall be issued by any corporation organized under the provisions of this act for the purpose of purchasing any equipment or other personal property not used in manufacturing or processing operations.
Acts 1955, No. 404, § 27; 1957, No. 47, § 5; 1968 (2nd Ex. Sess.), No. 11, § 2; A.S.A. 1947, § 9-530.
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.