Arkansas § 15-4-407 - Limits on bond issuance and loan purchases.
Full text of Arkansas Arkansas Code of 1987 Annotated § 15-4-407 — Limits on bond issuance and loan purchases., with citation guidance and answers to common questions.
§ 15-4-407. Limits on bond issuance and loan purchases.
The Arkansas Economic Development Council is authorized and empowered to issue revenue bonds in such amounts as may be determined by the council. For the purposes of this subchapter, the aggregate amount of revenue bonds to be issued under the provisions of this subchapter shall not exceed the sum of ten million dollars ($10,000,000) for the fiscal biennium ending June 30, 1987. Moneys loaned to small business companies under the provisions of this subchapter shall be used by the companies in making business loans to small business concerns, as defined in this subchapter, in amounts not to exceed an aggregate of one hundred thousand dollars ($100,000) in such moneys to the same small business concern during any fiscal biennium. Small business concern loans purchased by the council from qualified small business investment companies shall not exceed an aggregate of one hundred thousand dollars ($100,000) in loans to any single business firm during any fiscal biennium.
Source: official Arkansas text · Last verified 2026-08-27
Frequently Asked Questions About Arkansas § 15-4-407
What does Arkansas Code of 1987 Annotated § 15-4-407 cover?
Section 15-4-407 ("Limits on bond issuance and loan purchases.") 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 § 15-4-407?
A common citation format is "Arkansas Code of 1987 Annotated § 15-4-407" (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 § 15-4-407 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.