Arkansas § 15-5-1103 - Definitions.
Full text of Arkansas Arkansas Code of 1987 Annotated § 15-5-1103 — Definitions., with citation guidance and answers to common questions.
§ 15-5-1103. Definitions.
As used in this subchapter: “Financial institution” means all banks, savings and loan associations, corporations organized under the County and Regional Industrial Development Company Act, § 15-4-1201 et seq., and any other lending institutions approved by the Board of Directors of the Arkansas Development Finance Authority; “Loss reserve account” means an account in a financial institution that is established and maintained by the Arkansas Development Finance Authority for the benefit of a financial institution participating in the Arkansas Capital Access Program for Small Business or the Arkansas Credit Reserve Program; “Qualified business” means a person conducting business for profit or not-for-profit who is authorized to conduct business in the State of Arkansas; and “Qualified loan” means a loan or portion of a loan made by a financial institution to a qualified business for any business activity that has its primary economic effect in Arkansas.
Frequently Asked Questions About Arkansas § 15-5-1103
What does Arkansas Code of 1987 Annotated § 15-5-1103 cover?
Section 15-5-1103 ("Definitions.") 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 § 15-5-1103?
A common citation format is "Arkansas Code of 1987 Annotated § 15-5-1103" (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 § 15-5-1103 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.