Arkansas § 15-5-713 Funding of qualified investments

Arkansas Statutes

§ 15-5-713 — Funding of qualified investments

Arkansas § 15-5-713

Title15

This text of Arkansas § 15-5-713 (Funding of qualified investments) 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. § 15-5-713 (2026).

Text

(a)The Arkansas Development Finance Authority may approve the use of funds for qualified investments upon such terms and conditions and for such periods of time as shall be recommended by the President of the Arkansas Development Finance Authority and approved by the Board of Directors of the Arkansas Development Finance Authority from:

(1)Cash funds held by the authority; and (2) The Venture Capital Investment Trust.

(b)The board shall not approve a qualified investment that:

(1)Does not further the purposes of this subchapter; and (2) Is not in the best interest of the state.

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(a) The Arkansas Development Finance Authority may approve the use of funds for qualified investments upon such terms and conditions and for such periods of time as shall be recommended by the President of the Arkansas Development Finance Authority and approved by the Board of Directors of the Arkansas Development Finance Authority from: (1) Cash funds held by the authority; and (2) The Venture Capital Investment Trust. (b) The board shall not approve a qualified investment that: (1) Does not further the purposes of this subchapter; and (2) Is not in the best interest of the state.