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6-81-205. Sale of securities.
Arkansas Code — all titles (historical 2020) · legal_authorities
6-81-205. Sale of securities.
(a) Whenever moneys made available to the Student Loan Guarantee Foundation of Arkansas under the provisions of this subchapter are insufficient to meet cash obligations of the foundation pursuant to applicable federal laws, the foundation is authorized to sell for cash any securities transferred to the foundation under the provisions of this subchapter, except the notes or other obligations received by the foundation as evidence of loans made by the Arkansas Student Loan Board.
(b) Before selling any such securities, the foundation shall notify the Chief Fiscal Officer of the State of its intent to sell the securities.
(c) The Chief Fiscal Officer of the State shall establish the procedures which the foundation shall follow with respect to the sale of any securities.
(d) The Chief Fiscal Officer of the State, before any sale is final, shall give his or her written approval thereof.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-81-205
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:6-81-205
Source file: gov.ar.code.title.06.odt
Pages: Not recorded – Not recorded
Passage SHA-256: ba4e4f912a0df1994ffacfa4a1a0aeb4a44c47f2fd6da3e5ec178baec1ce1b60
Source location: content.xml paragraph 42507
Stored source content
6-81-205. Sale of securities.
(a) Whenever moneys made available to the Student Loan Guarantee Foundation of Arkansas under the provisions of this subchapter are insufficient to meet cash obligations of the foundation pursuant to applicable federal laws, the foundation is authorized to sell for cash any securities transferred to the foundation under the provisions of this subchapter, except the notes or other obligations received by the foundation as evidence of loans made by the Arkansas Student Loan Board.
(b) Before selling any such securities, the foundation shall notify the Chief Fiscal Officer of the State of its intent to sell the securities.
(c) The Chief Fiscal Officer of the State shall establish the procedures which the foundation shall follow with respect to the sale of any securities.
(d) The Chief Fiscal Officer of the State, before any sale is final, shall give his or her written approval thereof.
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