Arkansas § 15-22-1111 - Substitution of loans.
Full text of Arkansas Arkansas Code of 1987 Annotated § 15-22-1111 — Substitution of loans., with citation guidance and answers to common questions.
§ 15-22-1111. Substitution of loans.
The Arkansas Natural Resources Commission may remove any loan, bond, note, or other evidence of indebtedness purchased with moneys in the Drinking Water State Revolving Loan Fund Account from that account and substitute another loan, bond, note, or other evidence of indebtedness not then in default as to payment of any installment of principal, interest, or financing fee, and having an equal or greater outstanding principal balance, made by the commission for a purpose authorized by this subchapter. The commission may forgive principal of loans made and bonds, notes, and other evidences of indebtedness purchased with moneys in the account. However, principal may be forgiven only for loans made and bonds, notes, and other evidences of indebtedness purchased with moneys in the account provided by the federal government under the Safe Drinking Water Act to provide additional subsidization to eligible recipients in the form of forgiveness of principal, negative interest loans, or grants or any combination of principal, negative interest loans, or grants.
Source: official Arkansas text · Last verified 2026-08-27
Frequently Asked Questions About Arkansas § 15-22-1111
What does Arkansas Code of 1987 Annotated § 15-22-1111 cover?
Section 15-22-1111 ("Substitution of loans.") 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 § 15-22-1111?
A common citation format is "Arkansas Code of 1987 Annotated § 15-22-1111" (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 § 15-22-1111 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.