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23-115-803. Disposition of funds — Definition.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-115-803. Disposition of funds — Definition.
(a)(1) To effectuate the purposes of the Office of the Arkansas Lottery, the office may borrow moneys from the State of Arkansas or accept and expend moneys from the State of Arkansas and shall repay any sums borrowed from the state as soon as practicable.
(2) As used in this section, “purposes” includes without limitation the payment of the initial expenses of initiation, administration, and operation of the office and lotteries.
(3) The office shall not issue bonds for any purpose.
(b)(1) The office shall be self-sustaining and self-funded.
(2)(A) Except as provided in subsection (a) of this section, moneys in the General Revenue Fund Account of the State Apportionment Fund shall not be used or obligated to pay the expenses of the office or prizes of a lottery.
(B) A claim for the payment of an expense of a lottery or prizes of a lottery shall not be made against any moneys other than moneys credited to the office's operating account.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-115-803
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:23-115-803
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: fcc52514c52c1668604d0a673170a559d2f5142ed3655eaec8745ca361bcc4de
Source location: content.xml paragraph 66951
Stored source content
23-115-803. Disposition of funds — Definition.
(a)(1) To effectuate the purposes of the Office of the Arkansas Lottery, the office may borrow moneys from the State of Arkansas or accept and expend moneys from the State of Arkansas and shall repay any sums borrowed from the state as soon as practicable.
(2) As used in this section, “purposes” includes without limitation the payment of the initial expenses of initiation, administration, and operation of the office and lotteries.
(3) The office shall not issue bonds for any purpose.
(b)(1) The office shall be self-sustaining and self-funded.
(2)(A) Except as provided in subsection (a) of this section, moneys in the General Revenue Fund Account of the State Apportionment Fund shall not be used or obligated to pay the expenses of the office or prizes of a lottery.
(B) A claim for the payment of an expense of a lottery or prizes of a lottery shall not be made against any moneys other than moneys credited to the office's operating account.
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