Arkansas § 13-7-505 - Loan program — Duties of program.
Full text of Arkansas Arkansas Code of 1987 Annotated § 13-7-505 — Loan program — Duties of program., with citation guidance and answers to common questions.
§ 13-7-505. Loan program — Duties of program.
The Arkansas Historic Preservation Program shall make direct loans or loan subsidies upon such terms and conditions as it deems appropriate to owners of registered cultural properties for the restoration, rehabilitation, or repair of those properties in accordance with this subchapter. The program shall adopt rules to govern the application procedure and requirements for making or subsidizing loans under this subchapter. The program shall adopt rules to govern the deposits with lending institutions for making or subsidizing loans under this subchapter. The program shall adopt a system for the priority ranking of historic preservation projects, both eligible and ineligible for federal funding assistance, for which loan or loan subsidy applications have been received by the program. The system shall be based on factors including geographic distribution of recipient projects, severity of deterioration of the registered property, the degree of architectural and construction detail in the loan application demonstrating the feasibility of the proposed restoration, rehabilitation, or repair of the registered cultural property, and availability of other funding for the project. All loans or loan subsidies from the Historic Preservation Revolving Loan Fund shall be granted pursuant to this system, and the system shall be reviewed annually by the program. The program shall monitor the fund and shall prepare an annual report to the Governor and the General Assembly detailing the operations of the fund. The program has the authority necessary and appropriate for the exercise of the powers and duties conferred by this subchapter.
Frequently Asked Questions About Arkansas § 13-7-505
What does Arkansas Code of 1987 Annotated § 13-7-505 cover?
Section 13-7-505 ("Loan program — Duties of program.") 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 § 13-7-505?
A common citation format is "Arkansas Code of 1987 Annotated § 13-7-505" (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 § 13-7-505 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.