Arkansas § 14-88-310 - Interest in loans unlawful — Penalty.
Full text of Arkansas Arkansas Code of 1987 Annotated § 14-88-310 — Interest in loans unlawful — Penalty., with citation guidance and answers to common questions.
§ 14-88-310. Interest in loans unlawful — Penalty.
It shall be unlawful for a municipal board of improvement, or any member thereof, to: Loan the funds, or to be interested in the loan of the funds, raised in any improvement district; or Apply or use the funds for any purpose except the purpose for which they were raised; or Purchase, or to be interested in the purchase of, any lot or lands sold for the payment of delinquent assessments; or Loan money or furnish money or credit to any person, company, or corporation to make such a purchase. Any person violating the provisions of this section commits a felony and shall be: Fined in any sum not less than five hundred dollars ($500) nor more than five thousand dollars ($5,000); and Imprisoned in the state penitentiary not less than one (1) year nor more than ten (10) years.
Source: official Arkansas text · Last verified 2026-08-27
Frequently Asked Questions About Arkansas § 14-88-310
What does Arkansas Code of 1987 Annotated § 14-88-310 cover?
Section 14-88-310 ("Interest in loans unlawful — Penalty.") 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 § 14-88-310?
A common citation format is "Arkansas Code of 1987 Annotated § 14-88-310" (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 § 14-88-310 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.