Arkansas § 15-20-804 Limitation

Arkansas Statutes

§ 15-20-804 — Limitation

(a)In no event shall the Arkansas Natural Resources Commission obligate or pledge the full faith and credit of the State of Arkansas to secure any obligation sold, pledged, or placed with investors under this subchapter.

(b)(1) The commission shall not pledge its full faith and credit to secure any obligation sold, pledged, or placed with investors under this subchapter.

(2)However, the commission may obligate itself to honor those financial covenants and transaction enhancements that may be associated with the sale or pledge of the loans.

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(a) In no event shall the Arkansas Natural Resources Commission obligate or pledge the full faith and credit of the State of Arkansas to secure any obligation sold, pledged, or placed with investors under this subchapter. (b) (1) The commission shall not pledge its full faith and credit to secure any obligation sold, pledged, or placed with investors under this subchapter. (2) However, the commission may obligate itself to honor those financial covenants and transaction enhancements that may be associated with the sale or pledge of the loans.

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