Arkansas § 6-23-905 Loan decision

Arkansas Statutes

§ 6-23-905 — Loan decision

(a)The Division of Public School Academic Facilities and Transportation shall review and assess the accuracy of the information provided in each loan application within a reasonable time after receiving a loan application.

(b)(1) After reviewing and considering the merits of the application, the division may:

(A)Approve the loan requested for the full amount;

(B)Approve the loan requested for an amount less than requested; or (C) Deny the loan.

(2)The division shall notify the open-enrollment public charter school in writing of the decision.

(c)An open-enrollment public charter school may apply for and accept a loan from the Open-Enrollment Public Charter School Facilities Loan Fund without prior approval from the Commissioner of Elementary and Secondary Education under § 6-23-401(a)

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(a) The Division of Public School Academic Facilities and Transportation shall review and assess the accuracy of the information provided in each loan application within a reasonable time after receiving a loan application. (b) (1) After reviewing and considering the merits of the application, the division may: (A) Approve the loan requested for the full amount; (B) Approve the loan requested for an amount less than requested; or (C) Deny the loan. (2) The division shall notify the open-enrollment public charter school in writing of the decision. (c) An open-enrollment public charter school may apply for and accept a loan from the Open-Enrollment Public Charter School Facilities Loan Fund without prior approval from the Commissioner of Elementary and Secondary Education under § 6-23-401(a)(5) .

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