Arkansas § 6-62-609 - Negotiations — Terms of transfer.
Full text of Arkansas Arkansas Code of 1987 Annotated § 6-62-609 — Negotiations — Terms of transfer., with citation guidance and answers to common questions.
§ 6-62-609. Negotiations — Terms of transfer.
Subject to any requirements or limitations specified in the resolution, the persons so designated by the board shall proceed to negotiate with one (1) or more potential owners the transfer and lease agreement concerning the property described in the resolution. The transfer may be either for cash or on credit upon such terms and conditions and with such security as shall be approved by the board. The transfer price shall be an amount equal to not less than the fair market value of the property, determined as provided in § 6-62-610. The rent to be paid by the board under the lease agreement shall be not more than the fair market rental of the property, determined as provided in § 6-62-610. All terms of the transfer and lease agreement shall be subject to the approval of the board.
Source: official Arkansas text · Last verified 2026-08-27
Frequently Asked Questions About Arkansas § 6-62-609
What does Arkansas Code of 1987 Annotated § 6-62-609 cover?
Section 6-62-609 ("Negotiations — Terms of transfer.") 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 § 6-62-609?
A common citation format is "Arkansas Code of 1987 Annotated § 6-62-609" (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 § 6-62-609 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.