Arkansas § 12-27-122 - Debt service accounts.
Full text of Arkansas Arkansas Code of 1987 Annotated § 12-27-122 — Debt service accounts., with citation guidance and answers to common questions.
§ 12-27-122. Debt service accounts.
The Division of Correction may establish accounts in financial institutions other than the State Treasury for the purpose of making debt service payments on bonds issued, or leases, or both, through the Arkansas Development Finance Authority and as otherwise authorized by law. The accounts shall be entitled the “Construction Fund Deficiency Account”, the “Prisoner Housing Contract Account”, and the “Regional Facilities Operations Account”. Receipts into the Construction Fund Deficiency Account, the Prisoner Housing Contract Account, and the Regional Facilities Operations Account shall be from transfers from the work-release cash funds, payments to the division for housing county and city prisoners in regional facilities, and such other sources as required. Payments made by the division from the work-release cash funds, Construction Fund Deficiency Account, Prisoner Housing Contract Account, and the Regional Facilities Operations Account which are made for bonded indebtedness or leases of regional correction facilities, or both, are specifically exempt from §§ 19-4-801 — 19-4-803, 19-4-805, and 19-4-806.
Source: official Arkansas text · Last verified 2026-08-27
Frequently Asked Questions About Arkansas § 12-27-122
What does Arkansas Code of 1987 Annotated § 12-27-122 cover?
Section 12-27-122 ("Debt service accounts.") 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 § 12-27-122?
A common citation format is "Arkansas Code of 1987 Annotated § 12-27-122" (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 § 12-27-122 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.