Arkansas § 15-4-411 Security

Arkansas Statutes

§ 15-4-411 — Security

Arkansas § 15-4-411

Title15

This text of Arkansas § 15-4-411 (Security) 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. § 15-4-411 (2026).

Text

(a)The principal of, interest on, and trustees' and paying agents' fees in connection with the revenue bonds issued by the Arkansas Economic Development Council under the provisions of this subchapter shall be secured by a lien and pledge of the loans made or the investment loans purchased from the proceeds and collateral security received by the council from small business investment companies.

(b)It shall not be necessary to the provisions of the lien and pledge that the trustees or holders of the revenue bonds take possession of the loan mortgages for collateral security.

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(a) The principal of, interest on, and trustees' and paying agents' fees in connection with the revenue bonds issued by the Arkansas Economic Development Council under the provisions of this subchapter shall be secured by a lien and pledge of the loans made or the investment loans purchased from the proceeds and collateral security received by the council from small business investment companies. (b) It shall not be necessary to the provisions of the lien and pledge that the trustees or holders of the revenue bonds take possession of the loan mortgages for collateral security.