Ark. Code Ann. § 6-2-110
This is the official text of Ark. Code Ann. § 6-2-110, 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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Power to borrow for construction of facilities
Official statutory text
The governing body of a corporation organized under the provisions of this chapter shall have the power, for and on behalf of the corporation: (1) To borrow money from time to time for construction of facilities for its corporate purposes; (2) To evidence such indebtedness by promissory notes, bonds, or other negotiable evidences of indebtedness; (3) To secure the payment and the interest on the money borrowed by mortgage, pledge, conveyance, or assignment in trust of the whole or any part of the real and personal property of the corporation, whether at the time owned or thereafter acquired; and (4) To sell, pledge, and otherwise dispose of bonds or other obligations of the corporation issued for its corporate purposes. Acts 1965, No. 562, § 1; A.S.A. 1947, § 64-1415.
The governing body of a corporation organized under the provisions of this chapter shall have the power, for and on behalf of the corporation:
(1) To borrow money from time to time for construction of facilities for its corporate purposes;
(2) To evidence such indebtedness by promissory notes, bonds, or other negotiable evidences of indebtedness;
(3) To secure the payment and the interest on the money borrowed by mortgage, pledge, conveyance, or assignment in trust of the whole or any part of the real and personal property of the corporation, whether at the time owned or thereafter acquired; and
(4) To sell, pledge, and otherwise dispose of bonds or other obligations of the corporation issued for its corporate purposes.
Acts 1965, No. 562, § 1; A.S.A. 1947, § 64-1415.
The governing body of a corporation organized under the provisions of this chapter shall have the power, for and on behalf of the corporation:
(1) To borrow money from time to time for construction of facilities for its corporate purposes;
(2) To evidence such indebtedness by promissory notes, bonds, or other negotiable evidences of indebtedness;
(3) To secure the payment and the interest on the money borrowed by mortgage, pledge, conveyance, or assignment in trust of the whole or any part of the real and personal property of the corporation, whether at the time owned or thereafter acquired; and
(4) To sell, pledge, and otherwise dispose of bonds or other obligations of the corporation issued for its corporate purposes.
Acts 1965, No. 562, § 1; A.S.A. 1947, § 64-1415.
Status: in_force
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