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15-4-514. Authority to borrow money, issue bonds, etc.
Arkansas Code — all titles (historical 2020) · legal_authorities
15-4-514. Authority to borrow money, issue bonds, etc.
(a) Each corporation organized under this act is authorized to borrow money and to issue negotiable coupon bonds, or notes, or other obligations for the payment thereof from corporate funds to carry out the purposes for which the corporation is organized.
(b) However, no first lien bonds, notes, or other obligations shall be issued by any corporation organized under the provisions of this act for the purpose of purchasing any equipment or other personal property not used in manufacturing or processing operations.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-4-514
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:15-4-514
Source file: gov.ar.code.title.15.odt
Pages: Not recorded – Not recorded
Passage SHA-256: c0243ce83ad9eeafee284d10e8e2b11cb7584410c8e159974d5f3c93f218b236
Source location: content.xml paragraph 2135
Stored source content
15-4-514. Authority to borrow money, issue bonds, etc.
(a) Each corporation organized under this act is authorized to borrow money and to issue negotiable coupon bonds, or notes, or other obligations for the payment thereof from corporate funds to carry out the purposes for which the corporation is organized.
(b) However, no first lien bonds, notes, or other obligations shall be issued by any corporation organized under the provisions of this act for the purpose of purchasing any equipment or other personal property not used in manufacturing or processing operations.
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