Arkansas § 14-186-208 Warehouse facilities - Proposals for lease

Arkansas Statutes

§ 14-186-208 — Warehouse facilities - Proposals for lease

Arkansas § 14-186-208

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This text of Arkansas § 14-186-208 (Warehouse facilities - Proposals for lease) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 14-186-208 (2026).

Text

(a)Before entering into a new lease of existing warehouse facilities with a third-party lessor or a lease of new warehouse facilities with a third-party lessor under this subchapter, an authority shall:

(1)Publicly solicit proposals for the leasing of the warehouse facilities on terms that are customary and usual in the commercial warehousing industry; and (2) Accept the proposal the authority deems to be commercially reasonable and in the best interest of the authority.

(b)This section does not apply to a warehouse facility that:

(1)An authority owns or plans to construct; and (2) Is leased to a third-party tenant.

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(a) Before entering into a new lease of existing warehouse facilities with a third-party lessor or a lease of new warehouse facilities with a third-party lessor under this subchapter, an authority shall: (1) Publicly solicit proposals for the leasing of the warehouse facilities on terms that are customary and usual in the commercial warehousing industry; and (2) Accept the proposal the authority deems to be commercially reasonable and in the best interest of the authority. (b) This section does not apply to a warehouse facility that: (1) An authority owns or plans to construct; and (2) Is leased to a third-party tenant.