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25-20-425. Sham transactions prohibited.
Arkansas Code — all titles (historical 2020) · legal_authorities
25-20-425. Sham transactions prohibited.
(a) An authority created pursuant to this subchapter shall be prohibited from engaging in any sham transaction.
(b) For the purposes of this section, a “sham transaction” means the acquisition or construction of an electric project authorized by this subchapter for the purpose of:
(1) A subsequent sale or transfer of the electric project to any municipal electric utility, public utility, or other person engaged in the selling or distributing of electricity to consumers other than a municipal electric utility, public utility, or other person engaged in selling or distributing electricity to consumers that was selling or distributing electricity to consumers on July 16, 2003; or
(2) Providing electric service directly to an end user.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 25-20-425
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:25-20-425
Source file: gov.ar.code.title.25.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 6572e8e37bd1d89f454422f661c4955c589d386646a9f70128faa1a874dcfa4d
Source location: content.xml paragraph 9029
Stored source content
25-20-425. Sham transactions prohibited.
(a) An authority created pursuant to this subchapter shall be prohibited from engaging in any sham transaction.
(b) For the purposes of this section, a “sham transaction” means the acquisition or construction of an electric project authorized by this subchapter for the purpose of:
(1) A subsequent sale or transfer of the electric project to any municipal electric utility, public utility, or other person engaged in the selling or distributing of electricity to consumers other than a municipal electric utility, public utility, or other person engaged in selling or distributing electricity to consumers that was selling or distributing electricity to consumers on July 16, 2003; or
(2) Providing electric service directly to an end user.
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