Arkansas § 15-5-704 Duty of authority

Arkansas Statutes

§ 15-5-704 — Duty of authority

Arkansas § 15-5-704

Title15

This text of Arkansas § 15-5-704 (Duty of authority) 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. § 15-5-704 (2026).

Text

The Arkansas Development Finance Authority, in addition to all the duties and functions defined in the Arkansas Development Finance Authority Act, §§ 15-5-101 - 15-5-106 , 15-5-201 - 15-5-211 , 15-5-213 , and 15-5-301 - 15-5-316 , is empowered to approve or deny by majority vote of the Board of Directors of the Arkansas Development Finance Authority the applications for direct loans and guaranties of obligations and qualified investments, except that, at the discretion of the board, approvals for loans up to any limit the board shall specify may be approved by the Small Business Loan Committee. The committee shall report all such actions taken at the next meeting of the board.

Free access — add to your briefcase to read the full text and ask questions with AI

The Arkansas Development Finance Authority, in addition to all the duties and functions defined in the Arkansas Development Finance Authority Act, §§ 15-5-101 - 15-5-106 , 15-5-201 - 15-5-211 , 15-5-213 , and 15-5-301 - 15-5-316 , is empowered to approve or deny by majority vote of the Board of Directors of the Arkansas Development Finance Authority the applications for direct loans and guaranties of obligations and qualified investments, except that, at the discretion of the board, approvals for loans up to any limit the board shall specify may be approved by the Small Business Loan Committee. The committee shall report all such actions taken at the next meeting of the board.