Browse Arkansas Code titles and sections
20-7-406. Security for indebtedness.
Arkansas Code — all titles (historical 2020) · legal_authorities
20-7-406. Security for indebtedness.
(a) The payment and other obligations of the State Board of Health under and with respect to the loan shall be secured by a pledge of the fee revenues, subject to the terms of this subchapter and the reserved power to release fee revenues as set forth in this subchapter.
(b) The loan shall be an obligation of the board only and shall not constitute an indebtedness for which the faith and credit of the State of Arkansas or any of its revenues are pledged.
(c) The loan shall not be secured by a lien on any land, building, or other property belonging to the State of Arkansas.
(d) The loan shall not constitute an indebtedness within the meaning of any constitutional or statutory limitation.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 20-7-406
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:20-7-406
Source file: gov.ar.code.title.20.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 8958402afe91738ac57bace6d11dddd54db908b8f11d49244116817742c2ede0
Source location: content.xml paragraph 1884
Stored source content
20-7-406. Security for indebtedness.
(a) The payment and other obligations of the State Board of Health under and with respect to the loan shall be secured by a pledge of the fee revenues, subject to the terms of this subchapter and the reserved power to release fee revenues as set forth in this subchapter.
(b) The loan shall be an obligation of the board only and shall not constitute an indebtedness for which the faith and credit of the State of Arkansas or any of its revenues are pledged.
(c) The loan shall not be secured by a lien on any land, building, or other property belonging to the State of Arkansas.
(d) The loan shall not constitute an indebtedness within the meaning of any constitutional or statutory limitation.
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