Arkansas § 23-54-105 Treatment of loan proceeds

Arkansas Statutes

§ 23-54-105 — Treatment of loan proceeds

Arkansas § 23-54-105

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This text of Arkansas § 23-54-105 (Treatment of loan proceeds) 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. § 23-54-105 (2026).

Text

To the extent that implementation of this section does not conflict with federal law:

(1)Reverse mortgage loan payments made to a borrower shall be treated as proceeds from a loan and not as income for the purpose of determining eligibility and benefits under programs of aid to individuals; and (2) Undisbursed reverse mortgage funds shall be treated as equity in the borrower's home and not as proceeds from a loan, resources, or assets for the purpose of determining eligibility and benefits under programs of aid to individuals.

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To the extent that implementation of this section does not conflict with federal law: (1) Reverse mortgage loan payments made to a borrower shall be treated as proceeds from a loan and not as income for the purpose of determining eligibility and benefits under programs of aid to individuals; and (2) Undisbursed reverse mortgage funds shall be treated as equity in the borrower's home and not as proceeds from a loan, resources, or assets for the purpose of determining eligibility and benefits under programs of aid to individuals.