Arkansas § 13-5-309 - Terms and characteristics of bonds.
Full text of Arkansas Arkansas Code of 1987 Annotated § 13-5-309 — Terms and characteristics of bonds., with citation guidance and answers to common questions.
§ 13-5-309. Terms and characteristics of bonds.
As the Secretary of the Department of Parks, Heritage, and Tourism shall determine, bonds issued pursuant to this subchapter may: Be coupon bonds, payable to bearer, or may be registrable as to principal only or as to principal and interest, and may be made exchangeable for bonds of another denomination; Be in a form and denomination as the secretary determines; Have such date or dates, may be stated to mature at such times, and bear interest payable at such times and at such rate or rates, as the secretary determines, provided that no bond may bear interest at a rate exceeding eight percent (8%) per annum; Be made payable at places within or without the State of Arkansas; Be made subject to terms of redemption in advance of maturity at such prices, as determined by the secretary; Be issued in series from time to time; and Contain such terms and conditions as the secretary determines. Subject to provisions as to registration as set forth in subsection (a) of this section, the bonds shall have all the qualities of negotiable instruments under the laws of the State of Arkansas.
Source: official Arkansas text · Last verified 2026-08-27
Frequently Asked Questions About Arkansas § 13-5-309
What does Arkansas Code of 1987 Annotated § 13-5-309 cover?
Section 13-5-309 ("Terms and characteristics of bonds.") is part of the Arkansas Code of 1987 Annotated, the codified statutory law of Arkansas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arkansas § 13-5-309?
A common citation format is "Arkansas Code of 1987 Annotated § 13-5-309" (Arkansas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arkansas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arkansas official source linked on this page or consult a licensed Arkansas attorney.
How does Arkansas § 13-5-309 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arkansas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arkansas.