Arkansas § 15-4-416 - Deposit and use of revenues.
Full text of Arkansas Arkansas Code of 1987 Annotated § 15-4-416 — Deposit and use of revenues., with citation guidance and answers to common questions.
§ 15-4-416. Deposit and use of revenues.
All revenues received by the Division of Minority Business Enterprise of the Arkansas Economic Development Commission in behalf of the Arkansas Economic Development Council under the authority of this subchapter, except revenues derived from appropriations, are specifically declared to be cash funds restricted in their use and dedicated and to be used solely as provided in this subchapter. The pledged revenues shall not be deposited into the State Treasury, but, when received, shall be deposited by the council into the account or accounts and into the depository or depositories specified by resolution of the council and shall be used by the council solely for the purpose of carrying out the provisions of this subchapter and in conformity with the provisions of any resolution or indenture-securing bonds of the council or other agreement entered into by the council pursuant to the provisions of this subchapter. Any revenues at any time held by the council in excess of the amount necessary to accomplish the purpose for which the revenues were received and to comply with all covenants and agreements of the agency relating thereto shall be deposited to the credit of the state into such depositories and shall be reported to the Treasurer of State at such time and in such manner as shall be designated and prescribed by the Treasurer of State.
Source: official Arkansas text · Last verified 2026-08-27
Frequently Asked Questions About Arkansas § 15-4-416
What does Arkansas Code of 1987 Annotated § 15-4-416 cover?
Section 15-4-416 ("Deposit and use of revenues.") 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 § 15-4-416?
A common citation format is "Arkansas Code of 1987 Annotated § 15-4-416" (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 § 15-4-416 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.