Arkansas § 15-5-205 - Board meetings.
Full text of Arkansas Arkansas Code of 1987 Annotated § 15-5-205 — Board meetings., with citation guidance and answers to common questions.
§ 15-5-205. Board meetings.
The powers of the Arkansas Development Finance Authority shall be vested in the members of the Board of Directors of the Arkansas Development Finance Authority in office from time to time, and six (6) members of the board shall constitute a quorum at any meeting thereof. Action may be taken and motions and resolutions adopted by the board at any meeting thereof by the affirmative vote of a majority of present and voting board members. However, any motion and resolution to authorize an issue of bonds, to approve a loan application, to authorize a lease transaction, or to approve a bond guaranty shall have the affirmative vote of at least six (6) board members. No vacancy in the membership of the board shall impair the right of a quorum of the members to exercise all the powers and perform all duties of the board.
Source: official Arkansas text · Last verified 2026-08-27
Frequently Asked Questions About Arkansas § 15-5-205
What does Arkansas Code of 1987 Annotated § 15-5-205 cover?
Section 15-5-205 ("Board meetings.") 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 § 15-5-205?
A common citation format is "Arkansas Code of 1987 Annotated § 15-5-205" (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 § 15-5-205 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.