6-62-601. Definitions.

Arkansas Code — all titles (historical 2020) · legal_authorities

6-62-601. Definitions.

6-62-601. Definitions. As used in this subchapter, unless the context otherwise requires: (1) “Bank funds” means any funds of a board that are neither appropriated from the State Treasury nor required to be deposited in the State Treasury; (2) “Board” means the board of trustees of either the University of Arkansas, Arkansas State University, the University of Central Arkansas, Henderson State University, Arkansas Tech University, or Southern Arkansas University; (3) “Lease agreement” means an agreement between an owner and a board pursuant to which the owner leases or subleases, or agrees to lease or sublease, property to the board; (4)(A) “Owner” means a person or group of persons to whom a board makes a transfer of property in accordance with the provisions of this subchapter. (B) No member of the board shall have any interest, direct or indirect, in the owner; (5) “Person” means a natural person, a firm, a general partnership, a limited partnership, an association, a corporation, or a public body; (6) “Property” means any buildings or structures, utilities, on-site and off-site improvements, and other appurtenances and improvements, including the land upon which the building or structure is located, and undivided interests in any such property; and (7) “Transfer” means to sell or to lease, as lessor or lessee.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-62-601

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.