Browse Arkansas Code titles and sections
15-5-1105. Capital Access Fund — Use — Investment earnings — Administrative expenses.
Arkansas Code — all titles (historical 2020) · legal_authorities
15-5-1105. Capital Access Fund — Use — Investment earnings — Administrative expenses.
(a) There is created within the Arkansas Development Finance Authority the Capital Access Fund.
(b)(1) All moneys deposited into the fund are for the purpose of making payments to loan loss reserve accounts established under § 15-5-1106.
(2) All moneys available for deposit into the fund shall be restricted to only such cash funds available to the authority for the purposes provided in this subchapter.
(c) Moneys in the fund may be invested as provided in § 15-5-407.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-5-1105
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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Stable record: arkansas_code:legal_authorities:15-5-1105
Source file: gov.ar.code.title.15.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 1bbc38f8ed9d741d883206e03224bc53ccb415c24a71e5694fe4e5000627398d
Source location: content.xml paragraph 8901
Stored source content
15-5-1105. Capital Access Fund — Use — Investment earnings — Administrative expenses.
(a) There is created within the Arkansas Development Finance Authority the Capital Access Fund.
(b)(1) All moneys deposited into the fund are for the purpose of making payments to loan loss reserve accounts established under § 15-5-1106.
(2) All moneys available for deposit into the fund shall be restricted to only such cash funds available to the authority for the purposes provided in this subchapter.
(c) Moneys in the fund may be invested as provided in § 15-5-407.
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Arkansas Code — all titles (historical 2020) · legal_authorities
15-5-1106. Loss reserve accounts — Limitation on amount.
(a) The Arkansas Development Finance Authority shall establish a loss reserve account for each financial institution with which the authority makes a contract.
(b) The loss reserve account for a financial institution shall consist of moneys paid in fees by borrowers and the financial institution and moneys transferred to the account from the Capital Access Fund.
(c) The authority may establish and maintain loss reserve accounts with any financial institution under such policies as the authority may adopt.
(d) All moneys in a loss reserve account are the property of the authority.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-5-1106
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. The source passage cites 15-5-1106. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
15-5-407. Bond Guaranty Reserve Account — Investment of funds.
(a)(1) The Arkansas Development Finance Authority may establish a Bond Guaranty Reserve Account in an Arkansas financial institution or institutions that are members of the Federal Deposit Insurance Corporation.
(2) The account shall be in the name of the authority, and the amount in the account in excess of that insured by the Federal Deposit Insurance Corporation shall be secured by, and the authority may invest account funds in:
(A) Direct obligations of, or obligations which are guaranteed by, the United States;
(B) Obligations, debentures, notes, or other evidences of indebtedness issued or guaranteed by any of the following:
(i) Bank for Cooperatives;
(ii) Export-Import Bank of the United States;
(iii) Federal Financing Bank;
(iv) Federal Home Loan Bank System;
(v) Federal Home Loan Mortgage Corporation;
(vi) Federal Housing Administration;
(vii) Federal Intermediate Credit Bank;
(viii) Federal Land Bank;
(ix) Federal National Mortgage Association; or
(x) Government National Mortgage Association;
(C) Repurchase agreements with financial institutions acting as principal or agent for securities described in this subsection if the securities are delivered to the authority or trustee on its behalf;
(D) Obligations issued by public agencies or municipalities and fully secured as to the payment of both principal and interest by a pledge of annual contributions under an annual contributions contract or contracts with the United States or temporary notes, preliminary loan notes, or project notes issued by public agencies or municipalities, in each case fully secured as to the payment of both principal and interest by a requisition or payment agreement with the United States;
(E
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-5-407
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. The source passage cites 15-5-407. This identifies an authority to review, not proof of applicability.