Arkansas § 15-4-514 Authority to borrow money, issue bonds, etc

Arkansas Statutes

§ 15-4-514 — Authority to borrow money, issue bonds, etc

Arkansas § 15-4-514

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This text of Arkansas § 15-4-514 (Authority to borrow money, issue bonds, etc) 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. § 15-4-514 (2026).

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.

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(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.