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15-4-104. Bond guaranty programs for employee stock purchases.
Arkansas Code — all titles (historical 2020) · legal_authorities
15-4-104. Bond guaranty programs for employee stock purchases.
(a) When an Arkansas-based employee stock ownership plan buys at least twenty percent (20%) of the stock of an Arkansas-based business entity formed under Arkansas law and the Director of the Arkansas Economic Development Commission determines that had it not been for the purchase by the employee stock ownership plan that Arkansas jobs would have been lost, the Arkansas-based business entity shall be qualified for any bond guaranty programs administered by the Arkansas Economic Development Commission or the Arkansas Development Finance Authority.
(b) The commission and the authority shall promulgate rules necessary for the implementation of this section.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-4-104
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:15-4-104
Source file: gov.ar.code.title.15.odt
Pages: Not recorded – Not recorded
Passage SHA-256: d1da1ec2a78603ca87f2fbc75e1b2ea98ac6fbc7f37a92c7a5ae75a660c473a1
Source location: content.xml paragraph 1268
Stored source content
15-4-104. Bond guaranty programs for employee stock purchases.
(a) When an Arkansas-based employee stock ownership plan buys at least twenty percent (20%) of the stock of an Arkansas-based business entity formed under Arkansas law and the Director of the Arkansas Economic Development Commission determines that had it not been for the purchase by the employee stock ownership plan that Arkansas jobs would have been lost, the Arkansas-based business entity shall be qualified for any bond guaranty programs administered by the Arkansas Economic Development Commission or the Arkansas Development Finance Authority.
(b) The commission and the authority shall promulgate rules necessary for the implementation of this section.
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