Arkansas § 25-20-425 Sham transactions prohibited

Arkansas Statutes

§ 25-20-425 — Sham transactions prohibited

Arkansas § 25-20-425

Title25

This text of Arkansas § 25-20-425 (Sham transactions prohibited) 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. § 25-20-425 (2026).

Text

(a)An authority created pursuant to this subchapter shall be prohibited from engaging in any sham transaction.

(b)For the purposes of this section, a "sham transaction" means the acquisition or construction of an electric project authorized by this subchapter for the purpose of:

(1)A subsequent sale or transfer of the electric project to any municipal electric utility, public utility, or other person engaged in the selling or distributing of electricity to consumers other than a municipal electric utility, public utility, or other person engaged in selling or distributing electricity to consumers that was selling or distributing electricity to consumers on July 16, 2003; or (2) Providing electric service directly to an end user.

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(a) An authority created pursuant to this subchapter shall be prohibited from engaging in any sham transaction. (b) For the purposes of this section, a "sham transaction" means the acquisition or construction of an electric project authorized by this subchapter for the purpose of: (1) A subsequent sale or transfer of the electric project to any municipal electric utility, public utility, or other person engaged in the selling or distributing of electricity to consumers other than a municipal electric utility, public utility, or other person engaged in selling or distributing electricity to consumers that was selling or distributing electricity to consumers on July 16, 2003; or (2) Providing electric service directly to an end user.