Browse Arkansas Code titles and sections
23-14-124. Regulation of securities and liens — Liability of state.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-14-124. Regulation of securities and liens — Liability of state.
(a) The Arkansas Department of Transportation is empowered to supervise, regulate, restrict, and control the issuance of stock, stock certificates, bonds, notes, and other evidences of indebtedness by common carriers by aircraft incorporated under the laws of Arkansas and the creation of liens on property in this state by carriers incorporated under the laws of other states.
(b) All securities issued without approval of the department as provided for in this section shall be void.
(c) This section shall not apply to the issuance of any securities payable at periods of not more than twelve (12) months from the date thereof.
(d) No provision in this chapter and no deed or act done or performed under or pursuant to this chapter shall be construed to obligate the State of Arkansas to pay or guarantee, in any manner whatsoever, any securities issued under the provisions of this chapter.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-14-124
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:23-14-124
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: e6ecf53763e10aab7be6e0b5b925a3e3f72e15774cddbc84b5bad34ec5e62e73
Source location: content.xml paragraph 10561
Stored source content
23-14-124. Regulation of securities and liens — Liability of state.
(a) The Arkansas Department of Transportation is empowered to supervise, regulate, restrict, and control the issuance of stock, stock certificates, bonds, notes, and other evidences of indebtedness by common carriers by aircraft incorporated under the laws of Arkansas and the creation of liens on property in this state by carriers incorporated under the laws of other states.
(b) All securities issued without approval of the department as provided for in this section shall be void.
(c) This section shall not apply to the issuance of any securities payable at periods of not more than twelve (12) months from the date thereof.
(d) No provision in this chapter and no deed or act done or performed under or pursuant to this chapter shall be construed to obligate the State of Arkansas to pay or guarantee, in any manner whatsoever, any securities issued under the provisions of this chapter.
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