Arkansas § 15-5-1104 - Contracts with financial institutions — Contents of contract.
Full text of Arkansas Arkansas Code of 1987 Annotated § 15-5-1104 — Contracts with financial institutions — Contents of contract., with citation guidance and answers to common questions.
§ 15-5-1104. Contracts with financial institutions — Contents of contract.
The Arkansas Development Finance Authority may contract with a financial institution for the purpose of allowing the financial institution to participate in the Arkansas Capital Access Program for Small Business or the Arkansas Credit Reserve Program. A contract between the authority and a financial institution under this section shall provide: For the creation of a loss reserve account by the authority for the benefit of the financial institution; That the financial institution, a qualified business, and the authority will deposit moneys to the credit of the financial institution's loss reserve account when the financial institution makes a qualified loan to the qualified business; That the authority will pay moneys in the loss reserve account, not exceeding an amount equal to the total amount credited to the loss reserve account, to the financial institution to reimburse the financial institution for any financial loss incurred as a result of any qualified loan made under the Arkansas Capital Access Program for Small Business or the Arkansas Credit Reserve Program; That the liability of the authority to the financial institution under the contract is limited to the amount of money credited to the loss reserve account of the financial institution; and For such other terms as the authority may require.
Source: official Arkansas text · Last verified 2026-08-27
Frequently Asked Questions About Arkansas § 15-5-1104
What does Arkansas Code of 1987 Annotated § 15-5-1104 cover?
Section 15-5-1104 ("Contracts with financial institutions — Contents of contract.") 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 § 15-5-1104?
A common citation format is "Arkansas Code of 1987 Annotated § 15-5-1104" (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 § 15-5-1104 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.