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14-92-203. Penalty.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-92-203. Penalty.
(a) It shall not be lawful for the board of commissioners of any suburban improvement district or any officer, member, or agent thereof to appropriate or use any money arising from the sale of any bonds authorized to be issued under this subchapter to any use or purpose whatever other than is specified and expressly directed.
(b) And any officer, member, or agent of the board of a district who shall violate any of the provisions of this subchapter as prescribed in this section shall be deemed guilty of a felony and, upon conviction shall be punished by imprisonment in the penitentiary for not less than one (1) year nor more than five (5) years.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-92-203
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:14-92-203
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 7c20f4be33fb1429a1bbb7e4d1a977c016380b951d361c33484eeedd38b45f21
Source location: content.xml paragraph 25203
Stored source content
14-92-203. Penalty.
(a) It shall not be lawful for the board of commissioners of any suburban improvement district or any officer, member, or agent thereof to appropriate or use any money arising from the sale of any bonds authorized to be issued under this subchapter to any use or purpose whatever other than is specified and expressly directed.
(b) And any officer, member, or agent of the board of a district who shall violate any of the provisions of this subchapter as prescribed in this section shall be deemed guilty of a felony and, upon conviction shall be punished by imprisonment in the penitentiary for not less than one (1) year nor more than five (5) years.
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