Arkansas § 20-7-406 Security for indebtedness

Arkansas Statutes

§ 20-7-406 — Security for indebtedness

Arkansas § 20-7-406

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This text of Arkansas § 20-7-406 (Security for indebtedness) 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. § 20-7-406 (2026).

Text

(a)The payment and other obligations of the State Board of Health under and with respect to the loan shall be secured by a pledge of the fee revenues, subject to the terms of this subchapter and the reserved power to release fee revenues as set forth in this subchapter.

(b)The loan shall be an obligation of the board only and shall not constitute an indebtedness for which the faith and credit of the State of Arkansas or any of its revenues are pledged.

(c)The loan shall not be secured by a lien on any land, building, or other property belonging to the State of Arkansas.

(d)The loan shall not constitute an indebtedness within the meaning of any constitutional or statutory limitation.

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(a) The payment and other obligations of the State Board of Health under and with respect to the loan shall be secured by a pledge of the fee revenues, subject to the terms of this subchapter and the reserved power to release fee revenues as set forth in this subchapter. (b) The loan shall be an obligation of the board only and shall not constitute an indebtedness for which the faith and credit of the State of Arkansas or any of its revenues are pledged. (c) The loan shall not be secured by a lien on any land, building, or other property belonging to the State of Arkansas. (d) The loan shall not constitute an indebtedness within the meaning of any constitutional or statutory limitation.