Arkansas § 15-3-112 - Prohibition on personal interest in contracts.
Full text of Arkansas Arkansas Code of 1987 Annotated § 15-3-112 — Prohibition on personal interest in contracts., with citation guidance and answers to common questions.
§ 15-3-112. Prohibition on personal interest in contracts.
No director, officer, or employee of the Division of Science and Technology of the Arkansas Economic Development Commission or of the Board of Directors of the Division of Science and Technology of the Arkansas Economic Development Commission, for purpose of personal gain, shall have or attempt to have, directly or indirectly, any interest in any contract or agreement of the division in connection with the qualified investments or other programs of the division. The Director of the Arkansas Economic Development Commission shall not invest, pursuant to § 15-3-122, in any qualified security of: Any enterprise that is owned, wholly or partially, directly or indirectly, by any director or officer of the division; or Any enterprise that employs a director of the division. It shall not be a violation of this section for the Director of the Arkansas Economic Development Commission to permit any college, university, or other nonprofit institution with which a director is affiliated to participate in any program of the division, provided that the director shall promptly disclose the nature of the affiliation to the board. It shall not be a violation of this section for the Director of the Arkansas Economic Development Commission to permit a manufacturer or other for-profit entity with which a director is affiliated to pay to the division fees for services and receive, in return for those fees, services: That are generally available to all manufacturers or other for-profit entities; and That are not available to the manufacturer or other for-profit entity solely due to its affiliation with a director. A director affiliated with a manufacturer or other for-profit entity that enters into a contract or an agreement pursuant to subdivision (d)(1) of this section shall disclose the contract or agreement in writing to the Director of the Arkansas Economic Development Commission. The Director of the Arkansas Economic Development Commission shall inform the board of the contract or agreement at its next regularly scheduled meeting and attach a copy of the written disclosure to the minutes of that meeting.
Source: official Arkansas text · Last verified 2026-08-27
Frequently Asked Questions About Arkansas § 15-3-112
What does Arkansas Code of 1987 Annotated § 15-3-112 cover?
Section 15-3-112 ("Prohibition on personal interest in contracts.") 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 § 15-3-112?
A common citation format is "Arkansas Code of 1987 Annotated § 15-3-112" (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 § 15-3-112 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.