Ark. Code Ann. § 15-72-217 — AR Code / Title 15 / Chapter 72 / Subchapter 2 / Section 15-72-217
Plugging dry or abandoned well by lessee or operator
Status: in_force

(a) All lessees or operators drilling or operating for crude oil or natural gas within the State of Arkansas shall immediately, in a practical and workmanlike manner under the supervision of the oil or gas inspector, as provided in this section, plug all dry holes or abandoned oil or gas wells in accordance with Oil and Gas Commission plugging rules. (b) (1) If after notice and a hearing the commission finds that a well drilled for the exploration, development, storage, or production of oil or gas, or as injection, salt water disposal, salt water source, brine injection or disposal has been abandoned, as defined by the commission, or is leaking salt water, oil, gas, or other deleterious substances into any fresh water formation or onto the surface of the land in the vicinity of the well, or creates an imminent danger to the health or safety of the public, the commission shall issue an order that the well be properly plugged, replugged, or repaired to remedy the situation. (2) (A) If the well operator fails to obey the order within the time set by the order, the commission may: (i) Authorize a person to enter upon the land on which the well is located and plug, replug, or repair the well, as may be reasonably required to remedy the condition; or (ii) (a) Transfer the well, the well-site equipment, or any hydrocarbons from the well that are stored on the well site. (b) "Well-site equipment" includes without limitation an associated tank battery and production facility equipment. (B) Any proceeds received from the transfer of a well, well-site equipment, or hydrocarbons from the well under subdivision (b)(2)(A) of this section shall be deposited in the Abandoned and Orphaned Well Plugging Fund. (3) (A) The costs and expenses incurred by the commission and paid with funds from the fund shall be a debt due by the well operator to the commission for reimbursement to the fund. (B) The well owner's failure to comply with the commission's order to plug, replug, or repair the well or to repay expenses incurred by the commission to plug, replug, or repair the well is a violation of this chapter and subject to enforcement action or a cessation of operations. (c) This section does not: (1) Relieve any well operator otherwise legally responsible from any obligation to plug, replug, or repair a well; or (2) Limit the authority of the commission to require the proper plugging, replugging, or repair of a well. (d) (1) Any person who enters upon the land on which the well is located to plug, replug, or repair the well, or who supports or contributes to any such action in accordance with the order of the commission and under contract to the commission, shall not be liable for any damages resulting from operations reasonably necessary or proper to plug, replug, or repair the well, except for damages to growing crops and improvements. (2) The person shall not be held to have assumed responsibility for future remedial work on the well or be liable in damages or otherwise for conditions subsequently arising from or in connection with the well. Acts 1917, No. 166, § 3, p. 890; C. & M. Dig., § 7301; Pope's Dig., § 9357; A.S.A. 1947, § 53-203; Acts 2005, No. 1267, § 4; 2009, No. 1175, § 14.

(a) All lessees or operators drilling or operating for crude oil or natural gas within the State of Arkansas shall immediately, in a practical and workmanlike manner under the supervision of the oil or gas inspector, as provided in this section, plug all dry holes or abandoned oil or gas wells in accordance with Oil and Gas Commission plugging rules.

(b) (1) If after notice and a hearing the commission finds that a well drilled for the exploration, development, storage, or production of oil or gas, or as injection, salt water disposal, salt water source, brine injection or disposal has been abandoned, as defined by the commission, or is leaking salt water, oil, gas, or other deleterious substances into any fresh water formation or onto the surface of the land in the vicinity of the well, or creates an imminent danger to the health or safety of the public, the commission shall issue an order that the well be properly plugged, replugged, or repaired to remedy the situation. (2) (A) If the well operator fails to obey the order within the time set by the order, the commission may: (i) Authorize a person to enter upon the land on which the well is located and plug, replug, or repair the well, as may be reasonably required to remedy the condition; or (ii) (a) Transfer the well, the well-site equipment, or any hydrocarbons from the well that are stored on the well site. (b) "Well-site equipment" includes without limitation an associated tank battery and production facility equipment. (B) Any proceeds received from the transfer of a well, well-site equipment, or hydrocarbons from the well under subdivision (b)(2)(A) of this section shall be deposited in the Abandoned and Orphaned Well Plugging Fund. (3) (A) The costs and expenses incurred by the commission and paid with funds from the fund shall be a debt due by the well operator to the commission for reimbursement to the fund. (B) The well owner's failure to comply with the commission's order to plug, replug, or repair the well or to repay expenses incurred by the commission to plug, replug, or repair the well is a violation of this chapter and subject to enforcement action or a cessation of operations.

(1) If after notice and a hearing the commission finds that a well drilled for the exploration, development, storage, or production of oil or gas, or as injection, salt water disposal, salt water source, brine injection or disposal has been abandoned, as defined by the commission, or is leaking salt water, oil, gas, or other deleterious substances into any fresh water formation or onto the surface of the land in the vicinity of the well, or creates an imminent danger to the health or safety of the public, the commission shall issue an order that the well be properly plugged, replugged, or repaired to remedy the situation.

(2) (A) If the well operator fails to obey the order within the time set by the order, the commission may: (i) Authorize a person to enter upon the land on which the well is located and plug, replug, or repair the well, as may be reasonably required to remedy the condition; or (ii) (a) Transfer the well, the well-site equipment, or any hydrocarbons from the well that are stored on the well site. (b) "Well-site equipment" includes without limitation an associated tank battery and production facility equipment. (B) Any proceeds received from the transfer of a well, well-site equipment, or hydrocarbons from the well under subdivision (b)(2)(A) of this section shall be deposited in the Abandoned and Orphaned Well Plugging Fund.

(A) If the well operator fails to obey the order within the time set by the order, the commission may: (i) Authorize a person to enter upon the land on which the well is located and plug, replug, or repair the well, as may be reasonably required to remedy the condition; or (ii) (a) Transfer the well, the well-site equipment, or any hydrocarbons from the well that are stored on the well site. (b) "Well-site equipment" includes without limitation an associated tank battery and production facility equipment.

(i) Authorize a person to enter upon the land on which the well is located and plug, replug, or repair the well, as may be reasonably required to remedy the condition; or

(ii) (a) Transfer the well, the well-site equipment, or any hydrocarbons from the well that are stored on the well site. (b) "Well-site equipment" includes without limitation an associated tank battery and production facility equipment.

(a) Transfer the well, the well-site equipment, or any hydrocarbons from the well that are stored on the well site.

(b) "Well-site equipment" includes without limitation an associated tank battery and production facility equipment.

(B) Any proceeds received from the transfer of a well, well-site equipment, or hydrocarbons from the well under subdivision (b)(2)(A) of this section shall be deposited in the Abandoned and Orphaned Well Plugging Fund.

(3) (A) The costs and expenses incurred by the commission and paid with funds from the fund shall be a debt due by the well operator to the commission for reimbursement to the fund. (B) The well owner's failure to comply with the commission's order to plug, replug, or repair the well or to repay expenses incurred by the commission to plug, replug, or repair the well is a violation of this chapter and subject to enforcement action or a cessation of operations.

(A) The costs and expenses incurred by the commission and paid with funds from the fund shall be a debt due by the well operator to the commission for reimbursement to the fund.

(B) The well owner's failure to comply with the commission's order to plug, replug, or repair the well or to repay expenses incurred by the commission to plug, replug, or repair the well is a violation of this chapter and subject to enforcement action or a cessation of operations.

(c) This section does not: (1) Relieve any well operator otherwise legally responsible from any obligation to plug, replug, or repair a well; or (2) Limit the authority of the commission to require the proper plugging, replugging, or repair of a well.

(1) Relieve any well operator otherwise legally responsible from any obligation to plug, replug, or repair a well; or

(2) Limit the authority of the commission to require the proper plugging, replugging, or repair of a well.

(d) (1) Any person who enters upon the land on which the well is located to plug, replug, or repair the well, or who supports or contributes to any such action in accordance with the order of the commission and under contract to the commission, shall not be liable for any damages resulting from operations reasonably necessary or proper to plug, replug, or repair the well, except for damages to growing crops and improvements. (2) The person shall not be held to have assumed responsibility for future remedial work on the well or be liable in damages or otherwise for conditions subsequently arising from or in connection with the well.

(1) Any person who enters upon the land on which the well is located to plug, replug, or repair the well, or who supports or contributes to any such action in accordance with the order of the commission and under contract to the commission, shall not be liable for any damages resulting from operations reasonably necessary or proper to plug, replug, or repair the well, except for damages to growing crops and improvements.

(2) The person shall not be held to have assumed responsibility for future remedial work on the well or be liable in damages or otherwise for conditions subsequently arising from or in connection with the well.

Acts 1917, No. 166, § 3, p. 890; C. & M. Dig., § 7301; Pope's Dig., § 9357; A.S.A. 1947, § 53-203; Acts 2005, No. 1267, § 4; 2009, No. 1175, § 14.
Ark. Code Ann. § 15-5-406 — AR Code / Title 15 / Chapter 5 / Subchapter 4 / Section 15-5-406
Standards and rules for evaluations
Status: in_force

The Arkansas Development Finance Authority shall promulgate standards and rules for the evaluation of the financial condition and business history of developers and may require the attachment to each application for guaranty under this subchapter of a financial report and evaluation by an independent certified public accounting firm, in addition to such examination and evaluation as the authority may make, in determining whether the developer meets prescribed minimum standards and qualifications before entering into any guaranty under this subchapter. Amended by Act 2019, No. 315,§ 1077, eff. 7/24/2019. Acts 1985, No. 340, § 5; 1985, No. 505, § 5; A.S.A. 1947, § 13-2928; Acts 1987, No. 1042, § 3.

The Arkansas Development Finance Authority shall promulgate standards and rules for the evaluation of the financial condition and business history of developers and may require the attachment to each application for guaranty under this subchapter of a financial report and evaluation by an independent certified public accounting firm, in addition to such examination and evaluation as the authority may make, in determining whether the developer meets prescribed minimum standards and qualifications before entering into any guaranty under this subchapter.

Amended by Act 2019, No. 315,§ 1077, eff. 7/24/2019.

Acts 1985, No. 340, § 5; 1985, No. 505, § 5; A.S.A. 1947, § 13-2928; Acts 1987, No. 1042, § 3.
Ark. Code Ann. § 15-72-804 — AR Code / Title 15 / Chapter 72 / Subchapter 8 / Section 15-72-804
Establishment of state emergency petroleum set-aside - General provisions
Status: in_force

(a) (1) The Arkansas Pollution Control and Ecology Commission shall promulgate rules establishing a set-aside system for petroleum products and reporting requirements for prime suppliers and brokers. (2) The rules shall direct prime suppliers and brokers to set aside a percentage of petroleum products that are delivered to suppliers in the state for the Arkansas Energy Office of the Division of Environmental Quality to distribute to meet emergency and hardship needs. (b) The set-aside system established pursuant to this section shall not be implemented unless: (1) The United States Government terminates, suspends, or fails to implement a national set-aside program; (2) The Governor finds that a set-aside system is necessary to manage an energy shortage within the state which threatens the continuation of services by emergency vehicles, essential industry, and agricultural end users; and (3) The Governor directs the office to implement all or a portion of the set-aside program necessary to prevent and alleviate any energy hardships or shortages. (c) Upon adoption of the rules authorized under subsection (a) of this section, the Director of the Arkansas Energy Office shall notify each prime supplier and broker of the set-aside percentage applicable to each product subject to the set-aside program. (d) (1) The director shall establish as part of the rules adopted under subsection (a) of this section procedures governing applications for assignment and assignments by the office under the state set-aside system. (2) The procedures shall: (A) Include criteria for approving and disapproving applications and identifying priority users and an appeals process; and (B) Require the director to take into account whether any assignment under the state set-aside program is likely to create an undue economic burden or other hardship for the prime supplier or broker involved. (e) Each prime supplier and broker shall designate a representative to act for and in behalf of the prime supplier or broker with respect to the state set-aside program. Each prime supplier and broker shall notify in writing the office of that designation. (f) The release of the set-aside shall be as follows: (1) On or before the fifteenth day of the month, the director may order the release of part or all of the prime supplier's or broker's set-aside volume through the prime supplier's or broker's normal distribution system in the state; (2) From time to time, the director may designate certain geographical areas within the state as suffering from an intrastate supply imbalance. At any time during the month, the director may order some or all of the prime suppliers and brokers with purchasers within these geographical areas to release part or all of their set-aside volume through their normal distribution systems to increase the allocations of all the supplier's and broker's purchasers located within these areas; and (3) Orders issued pursuant to this section shall be in writing and effective immediately upon presentation to the prime supplier's or broker's designated regional manager or equivalent person. The orders shall represent a call on the prime supplier's or broker's set-aside volumes for the month of issuance irrespective of the fact that delivery cannot be made until the following month. (g) The set-aside program shall remain in effect no longer than a one-hundred-twenty-day period. The Governor may extend the program an additional thirty (30) days if necessary to manage an energy shortage. In the event that the Governor finds that the set-aside system is no longer necessary to manage an energy shortage, the Governor shall terminate the program. Amended by Act 2019, No. 315,§ 1261, eff. 7/24/2019. Amended by Act 2019, No. 910,§ 3180, eff. 7/1/2019. Amended by Act 2017, No. 271,§ 12, eff. 8/1/2017. Acts 1983, No. 377, § 3; A.S.A. 1947, § 53-1503; Acts 2007, No. 554, § 3.

(a) (1) The Arkansas Pollution Control and Ecology Commission shall promulgate rules establishing a set-aside system for petroleum products and reporting requirements for prime suppliers and brokers. (2) The rules shall direct prime suppliers and brokers to set aside a percentage of petroleum products that are delivered to suppliers in the state for the Arkansas Energy Office of the Division of Environmental Quality to distribute to meet emergency and hardship needs.

(1) The Arkansas Pollution Control and Ecology Commission shall promulgate rules establishing a set-aside system for petroleum products and reporting requirements for prime suppliers and brokers.

(2) The rules shall direct prime suppliers and brokers to set aside a percentage of petroleum products that are delivered to suppliers in the state for the Arkansas Energy Office of the Division of Environmental Quality to distribute to meet emergency and hardship needs.

(b) The set-aside system established pursuant to this section shall not be implemented unless: (1) The United States Government terminates, suspends, or fails to implement a national set-aside program; (2) The Governor finds that a set-aside system is necessary to manage an energy shortage within the state which threatens the continuation of services by emergency vehicles, essential industry, and agricultural end users; and (3) The Governor directs the office to implement all or a portion of the set-aside program necessary to prevent and alleviate any energy hardships or shortages.

(1) The United States Government terminates, suspends, or fails to implement a national set-aside program;

(2) The Governor finds that a set-aside system is necessary to manage an energy shortage within the state which threatens the continuation of services by emergency vehicles, essential industry, and agricultural end users; and

(3) The Governor directs the office to implement all or a portion of the set-aside program necessary to prevent and alleviate any energy hardships or shortages.

(c) Upon adoption of the rules authorized under subsection (a) of this section, the Director of the Arkansas Energy Office shall notify each prime supplier and broker of the set-aside percentage applicable to each product subject to the set-aside program.

(d) (1) The director shall establish as part of the rules adopted under subsection (a) of this section procedures governing applications for assignment and assignments by the office under the state set-aside system. (2) The procedures shall: (A) Include criteria for approving and disapproving applications and identifying priority users and an appeals process; and (B) Require the director to take into account whether any assignment under the state set-aside program is likely to create an undue economic burden or other hardship for the prime supplier or broker involved.

(1) The director shall establish as part of the rules adopted under subsection (a) of this section procedures governing applications for assignment and assignments by the office under the state set-aside system.

(2) The procedures shall: (A) Include criteria for approving and disapproving applications and identifying priority users and an appeals process; and (B) Require the director to take into account whether any assignment under the state set-aside program is likely to create an undue economic burden or other hardship for the prime supplier or broker involved.

(A) Include criteria for approving and disapproving applications and identifying priority users and an appeals process; and

(B) Require the director to take into account whether any assignment under the state set-aside program is likely to create an undue economic burden or other hardship for the prime supplier or broker involved.

(e) Each prime supplier and broker shall designate a representative to act for and in behalf of the prime supplier or broker with respect to the state set-aside program. Each prime supplier and broker shall notify in writing the office of that designation.

(f) The release of the set-aside shall be as follows: (1) On or before the fifteenth day of the month, the director may order the release of part or all of the prime supplier's or broker's set-aside volume through the prime supplier's or broker's normal distribution system in the state; (2) From time to time, the director may designate certain geographical areas within the state as suffering from an intrastate supply imbalance. At any time during the month, the director may order some or all of the prime suppliers and brokers with purchasers within these geographical areas to release part or all of their set-aside volume through their normal distribution systems to increase the allocations of all the supplier's and broker's purchasers located within these areas; and (3) Orders issued pursuant to this section shall be in writing and effective immediately upon presentation to the prime supplier's or broker's designated regional manager or equivalent person. The orders shall represent a call on the prime supplier's or broker's set-aside volumes for the month of issuance irrespective of the fact that delivery cannot be made until the following month.

(1) On or before the fifteenth day of the month, the director may order the release of part or all of the prime supplier's or broker's set-aside volume through the prime supplier's or broker's normal distribution system in the state;

(2) From time to time, the director may designate certain geographical areas within the state as suffering from an intrastate supply imbalance. At any time during the month, the director may order some or all of the prime suppliers and brokers with purchasers within these geographical areas to release part or all of their set-aside volume through their normal distribution systems to increase the allocations of all the supplier's and broker's purchasers located within these areas; and

(3) Orders issued pursuant to this section shall be in writing and effective immediately upon presentation to the prime supplier's or broker's designated regional manager or equivalent person. The orders shall represent a call on the prime supplier's or broker's set-aside volumes for the month of issuance irrespective of the fact that delivery cannot be made until the following month.

(g) The set-aside program shall remain in effect no longer than a one-hundred-twenty-day period. The Governor may extend the program an additional thirty (30) days if necessary to manage an energy shortage. In the event that the Governor finds that the set-aside system is no longer necessary to manage an energy shortage, the Governor shall terminate the program.

Amended by Act 2019, No. 315,§ 1261, eff. 7/24/2019.

Amended by Act 2019, No. 910,§ 3180, eff. 7/1/2019.

Amended by Act 2017, No. 271,§ 12, eff. 8/1/2017.

Acts 1983, No. 377, § 3; A.S.A. 1947, § 53-1503; Acts 2007, No. 554, § 3.
Ark. Code Ann. § 15-3-404 — AR Code / Title 15 / Chapter 3 / Subchapter 4 / Section 15-3-404
Authorization of grants
Status: in_force

(a) If an applicant meets the requirements of § 15-3-403 , the applicant shall be placed in one (1) of the following four (4) levels and be eligible for a grant for up to five (5) years: (1) (A) An eligible business with a payroll in excess of ten million dollars ($10,000,000) is eligible to receive a grant of up to thirty-five thousand dollars ($35,000) over the five-year period. (B) If approved, the business will receive: (i) Ten thousand dollars ($10,000) in year one (1); (ii) Ten thousand dollars ($10,000) in year two (2); (iii) Seven thousand five hundred dollars ($7,500) in year three (3); (iv) Five thousand dollars ($5,000) in year four (4); and (v) Two thousand five hundred dollars ($2,500) in year five (5); (2) (A) An eligible business with a payroll in excess of five million dollars ($5,000,000) but no more than ten million dollars ($10,000,000) may be eligible to receive a grant of up to fifty-two thousand five hundred dollars ($52,500) over the five-year period. (B) If approved, the business will receive: (i) Fifteen thousand dollars ($15,000) in year one (1); (ii) Fifteen thousand dollars ($15,000) in year two (2); (iii) Eleven thousand two hundred fifty dollars ($11,250) in year three (3); (iv) Seven thousand five hundred dollars ($7,500) in year four (4); and (v) Three thousand seven hundred fifty dollars ($3,750) in year five (5); (3) (A) An eligible business with a payroll in excess of at least one million dollars ($1,000,000) but no more than five million dollars ($5,000,000) may be eligible to receive a grant of up to seventy thousand dollars ($70,000) over the five-year period. (B) If approved, the business will receive: (i) Twenty thousand dollars ($20,000) in year one (1); (ii) Twenty thousand dollars ($20,000) in year two (2); (iii) Fifteen thousand dollars ($15,000) in year three (3); (iv) Ten thousand dollars ($10,000) in year four (4); and (v) Five thousand dollars ($5,000) in year five (5); and (4) (A) An eligible business with a payroll of less than one million dollars ($1,000,000) may be eligible to receive a grant of up to eighty-seven thousand five hundred dollars ($87,500) over the five-year period. (B) If approved, the business will receive: (i) Twenty-five thousand dollars ($25,000) in year one (1); (ii) Twenty-five thousand dollars ($25,000) in year two (2); (iii) Eighteen thousand seven hundred fifty dollars ($18,750) in year three (3); (iv) Twelve thousand five hundred dollars ($12,500) in year four (4); and (v) Six thousand two hundred fifty dollars ($6,250) in year five (5). (b) The grants authorized by this section shall be administered and paid according to rules established by the Arkansas Economic Development Commission. (c) The commission shall not provide further grant funds to the approved business if at any time during the five-year grant period the postdoctoral graduate is no longer employed in Arkansas by the approved business. Amended by Act 2015EX1, No. 8,§ 86, eff. 7/1/2015. Amended by Act 2015EX1, No. 7,§ 86, eff. 7/1/2015. Acts 2009, No. 463, § 1.

(a) If an applicant meets the requirements of § 15-3-403 , the applicant shall be placed in one (1) of the following four (4) levels and be eligible for a grant for up to five (5) years: (1) (A) An eligible business with a payroll in excess of ten million dollars ($10,000,000) is eligible to receive a grant of up to thirty-five thousand dollars ($35,000) over the five-year period. (B) If approved, the business will receive: (i) Ten thousand dollars ($10,000) in year one (1); (ii) Ten thousand dollars ($10,000) in year two (2); (iii) Seven thousand five hundred dollars ($7,500) in year three (3); (iv) Five thousand dollars ($5,000) in year four (4); and (v) Two thousand five hundred dollars ($2,500) in year five (5); (2) (A) An eligible business with a payroll in excess of five million dollars ($5,000,000) but no more than ten million dollars ($10,000,000) may be eligible to receive a grant of up to fifty-two thousand five hundred dollars ($52,500) over the five-year period. (B) If approved, the business will receive: (i) Fifteen thousand dollars ($15,000) in year one (1); (ii) Fifteen thousand dollars ($15,000) in year two (2); (iii) Eleven thousand two hundred fifty dollars ($11,250) in year three (3); (iv) Seven thousand five hundred dollars ($7,500) in year four (4); and (v) Three thousand seven hundred fifty dollars ($3,750) in year five (5); (3) (A) An eligible business with a payroll in excess of at least one million dollars ($1,000,000) but no more than five million dollars ($5,000,000) may be eligible to receive a grant of up to seventy thousand dollars ($70,000) over the five-year period. (B) If approved, the business will receive: (i) Twenty thousand dollars ($20,000) in year one (1); (ii) Twenty thousand dollars ($20,000) in year two (2); (iii) Fifteen thousand dollars ($15,000) in year three (3); (iv) Ten thousand dollars ($10,000) in year four (4); and (v) Five thousand dollars ($5,000) in year five (5); and (4) (A) An eligible business with a payroll of less than one million dollars ($1,000,000) may be eligible to receive a grant of up to eighty-seven thousand five hundred dollars ($87,500) over the five-year period. (B) If approved, the business will receive: (i) Twenty-five thousand dollars ($25,000) in year one (1); (ii) Twenty-five thousand dollars ($25,000) in year two (2); (iii) Eighteen thousand seven hundred fifty dollars ($18,750) in year three (3); (iv) Twelve thousand five hundred dollars ($12,500) in year four (4); and (v) Six thousand two hundred fifty dollars ($6,250) in year five (5).

(1) (A) An eligible business with a payroll in excess of ten million dollars ($10,000,000) is eligible to receive a grant of up to thirty-five thousand dollars ($35,000) over the five-year period. (B) If approved, the business will receive: (i) Ten thousand dollars ($10,000) in year one (1); (ii) Ten thousand dollars ($10,000) in year two (2); (iii) Seven thousand five hundred dollars ($7,500) in year three (3); (iv) Five thousand dollars ($5,000) in year four (4); and (v) Two thousand five hundred dollars ($2,500) in year five (5);

(A) An eligible business with a payroll in excess of ten million dollars ($10,000,000) is eligible to receive a grant of up to thirty-five thousand dollars ($35,000) over the five-year period.

(B) If approved, the business will receive: (i) Ten thousand dollars ($10,000) in year one (1); (ii) Ten thousand dollars ($10,000) in year two (2); (iii) Seven thousand five hundred dollars ($7,500) in year three (3); (iv) Five thousand dollars ($5,000) in year four (4); and (v) Two thousand five hundred dollars ($2,500) in year five (5);

(i) Ten thousand dollars ($10,000) in year one (1);

(ii) Ten thousand dollars ($10,000) in year two (2);

(iii) Seven thousand five hundred dollars ($7,500) in year three (3);

(iv) Five thousand dollars ($5,000) in year four (4); and

(v) Two thousand five hundred dollars ($2,500) in year five (5);

(2) (A) An eligible business with a payroll in excess of five million dollars ($5,000,000) but no more than ten million dollars ($10,000,000) may be eligible to receive a grant of up to fifty-two thousand five hundred dollars ($52,500) over the five-year period. (B) If approved, the business will receive: (i) Fifteen thousand dollars ($15,000) in year one (1); (ii) Fifteen thousand dollars ($15,000) in year two (2); (iii) Eleven thousand two hundred fifty dollars ($11,250) in year three (3); (iv) Seven thousand five hundred dollars ($7,500) in year four (4); and (v) Three thousand seven hundred fifty dollars ($3,750) in year five (5);

(A) An eligible business with a payroll in excess of five million dollars ($5,000,000) but no more than ten million dollars ($10,000,000) may be eligible to receive a grant of up to fifty-two thousand five hundred dollars ($52,500) over the five-year period.

(B) If approved, the business will receive: (i) Fifteen thousand dollars ($15,000) in year one (1); (ii) Fifteen thousand dollars ($15,000) in year two (2); (iii) Eleven thousand two hundred fifty dollars ($11,250) in year three (3); (iv) Seven thousand five hundred dollars ($7,500) in year four (4); and (v) Three thousand seven hundred fifty dollars ($3,750) in year five (5);

(i) Fifteen thousand dollars ($15,000) in year one (1);

(ii) Fifteen thousand dollars ($15,000) in year two (2);

(iii) Eleven thousand two hundred fifty dollars ($11,250) in year three (3);

(iv) Seven thousand five hundred dollars ($7,500) in year four (4); and

(v) Three thousand seven hundred fifty dollars ($3,750) in year five (5);

(3) (A) An eligible business with a payroll in excess of at least one million dollars ($1,000,000) but no more than five million dollars ($5,000,000) may be eligible to receive a grant of up to seventy thousand dollars ($70,000) over the five-year period. (B) If approved, the business will receive: (i) Twenty thousand dollars ($20,000) in year one (1); (ii) Twenty thousand dollars ($20,000) in year two (2); (iii) Fifteen thousand dollars ($15,000) in year three (3); (iv) Ten thousand dollars ($10,000) in year four (4); and (v) Five thousand dollars ($5,000) in year five (5); and

(A) An eligible business with a payroll in excess of at least one million dollars ($1,000,000) but no more than five million dollars ($5,000,000) may be eligible to receive a grant of up to seventy thousand dollars ($70,000) over the five-year period.

(B) If approved, the business will receive: (i) Twenty thousand dollars ($20,000) in year one (1); (ii) Twenty thousand dollars ($20,000) in year two (2); (iii) Fifteen thousand dollars ($15,000) in year three (3); (iv) Ten thousand dollars ($10,000) in year four (4); and (v) Five thousand dollars ($5,000) in year five (5); and

(i) Twenty thousand dollars ($20,000) in year one (1);

(ii) Twenty thousand dollars ($20,000) in year two (2);

(iii) Fifteen thousand dollars ($15,000) in year three (3);

(iv) Ten thousand dollars ($10,000) in year four (4); and

(v) Five thousand dollars ($5,000) in year five (5); and

(4) (A) An eligible business with a payroll of less than one million dollars ($1,000,000) may be eligible to receive a grant of up to eighty-seven thousand five hundred dollars ($87,500) over the five-year period. (B) If approved, the business will receive: (i) Twenty-five thousand dollars ($25,000) in year one (1); (ii) Twenty-five thousand dollars ($25,000) in year two (2); (iii) Eighteen thousand seven hundred fifty dollars ($18,750) in year three (3); (iv) Twelve thousand five hundred dollars ($12,500) in year four (4); and (v) Six thousand two hundred fifty dollars ($6,250) in year five (5).

(A) An eligible business with a payroll of less than one million dollars ($1,000,000) may be eligible to receive a grant of up to eighty-seven thousand five hundred dollars ($87,500) over the five-year period.

(B) If approved, the business will receive: (i) Twenty-five thousand dollars ($25,000) in year one (1); (ii) Twenty-five thousand dollars ($25,000) in year two (2); (iii) Eighteen thousand seven hundred fifty dollars ($18,750) in year three (3); (iv) Twelve thousand five hundred dollars ($12,500) in year four (4); and (v) Six thousand two hundred fifty dollars ($6,250) in year five (5).

(i) Twenty-five thousand dollars ($25,000) in year one (1);

(ii) Twenty-five thousand dollars ($25,000) in year two (2);

(iii) Eighteen thousand seven hundred fifty dollars ($18,750) in year three (3);

(iv) Twelve thousand five hundred dollars ($12,500) in year four (4); and

(v) Six thousand two hundred fifty dollars ($6,250) in year five (5).

(b) The grants authorized by this section shall be administered and paid according to rules established by the Arkansas Economic Development Commission.

(c) The commission shall not provide further grant funds to the approved business if at any time during the five-year grant period the postdoctoral graduate is no longer employed in Arkansas by the approved business.

Amended by Act 2015EX1, No. 8,§ 86, eff. 7/1/2015.

Amended by Act 2015EX1, No. 7,§ 86, eff. 7/1/2015.

Acts 2009, No. 463, § 1.
Ark. Code Ann. § 15-74-402 — AR Code / Title 15 / Chapter 74 / Subchapter 4 / Section 15-74-402
Rules
Status: in_force

The Secretary of the Department of Finance and Administration shall have authority to promulgate such rules in regard to the enforcement of this subchapter as shall not be inconsistent with the provisions of the subchapter which in his or her judgment will best serve to carry out the purpose thereof. Amended by Act 2019, No. 315,§ 1264, eff. 7/24/2019. Amended by Act 2019, No. 910,§ 3415, eff. 7/1/2019. Acts 1933, No. 134, § 11; Pope's Dig., § 10458; A.S.A. 1947, § 53-611.

The Secretary of the Department of Finance and Administration shall have authority to promulgate such rules in regard to the enforcement of this subchapter as shall not be inconsistent with the provisions of the subchapter which in his or her judgment will best serve to carry out the purpose thereof.

Amended by Act 2019, No. 315,§ 1264, eff. 7/24/2019.

Amended by Act 2019, No. 910,§ 3415, eff. 7/1/2019.

Acts 1933, No. 134, § 11; Pope's Dig., § 10458; A.S.A. 1947, § 53-611.
Ark. Code Ann. § 15-5-1207 — AR Code / Title 15 / Chapter 5 / Subchapter 12 / Section 15-5-1207
Expiration of subchapter
Status: in_force

The provisions of this subchapter shall expire upon payment of all principal and accrued interest due on the bonds and any refunding bonds issued. Acts 1995, No. 1054, § 1.

The provisions of this subchapter shall expire upon payment of all principal and accrued interest due on the bonds and any refunding bonds issued.

Acts 1995, No. 1054, § 1.
Ark. Code Ann. § 15-22-208 — AR Code / Title 15 / Chapter 22 / Subchapter 2 / Section 15-22-208
Subpoenas - Refusal to testify
Status: in_force

(a) The Arkansas Natural Resources Commission or any member thereof is empowered to issue a subpoena for any witness to require his or her attendance and the giving of testimony before the commission and to require the production of books, papers, and records in any proceeding before the commission which may be material to questions lawfully before the commission. (b) The subpoena shall be served by: (1) The county sheriff of the county in which the person subpoenaed resides; (2) The county sheriff's deputy; or (3) Any other officer authorized by law to serve process in this state. (c) If any person fails or refuses to comply with a subpoena issued by the commission or any member thereof or refuses to testify or answer to any matter regarding which he or she may be lawfully interrogated, the circuit court of the county in which the person is domiciled, on application of the commission, may: (1) In term time or vacation, issue an attachment for the person; (2) Compel him or her to: (A) Comply with the subpoena; (B) Appear before the commission; (C) Produce the documents; and (D) Give his or her testimony upon such matters as may be lawfully required; and (3) Punish for contempt any person who fails to obey any such order, as in a case of disobedience of a like subpoena issued by or from that court or for refusal to testify therein. (d) With respect to any such person who is not domiciled in Arkansas, the circuit court of the county in which the hearing involved is being held or is to be held shall have jurisdiction. Acts 1957, No. 81, § 5; A.S.A. 1947, § 21-1305.

(a) The Arkansas Natural Resources Commission or any member thereof is empowered to issue a subpoena for any witness to require his or her attendance and the giving of testimony before the commission and to require the production of books, papers, and records in any proceeding before the commission which may be material to questions lawfully before the commission.

(b) The subpoena shall be served by: (1) The county sheriff of the county in which the person subpoenaed resides; (2) The county sheriff's deputy; or (3) Any other officer authorized by law to serve process in this state.

(1) The county sheriff of the county in which the person subpoenaed resides;

(2) The county sheriff's deputy; or

(3) Any other officer authorized by law to serve process in this state.

(c) If any person fails or refuses to comply with a subpoena issued by the commission or any member thereof or refuses to testify or answer to any matter regarding which he or she may be lawfully interrogated, the circuit court of the county in which the person is domiciled, on application of the commission, may: (1) In term time or vacation, issue an attachment for the person; (2) Compel him or her to: (A) Comply with the subpoena; (B) Appear before the commission; (C) Produce the documents; and (D) Give his or her testimony upon such matters as may be lawfully required; and (3) Punish for contempt any person who fails to obey any such order, as in a case of disobedience of a like subpoena issued by or from that court or for refusal to testify therein.

(1) In term time or vacation, issue an attachment for the person;

(2) Compel him or her to: (A) Comply with the subpoena; (B) Appear before the commission; (C) Produce the documents; and (D) Give his or her testimony upon such matters as may be lawfully required; and

(A) Comply with the subpoena;

(B) Appear before the commission;

(C) Produce the documents; and

(D) Give his or her testimony upon such matters as may be lawfully required; and

(3) Punish for contempt any person who fails to obey any such order, as in a case of disobedience of a like subpoena issued by or from that court or for refusal to testify therein.

(d) With respect to any such person who is not domiciled in Arkansas, the circuit court of the county in which the hearing involved is being held or is to be held shall have jurisdiction.

Acts 1957, No. 81, § 5; A.S.A. 1947, § 21-1305.
Ark. Code Ann. § 15-5-403 — AR Code / Title 15 / Chapter 5 / Subchapter 4 / Section 15-5-403
Definitions
Status: in_force

As used in this subchapter: (1) "Act" means this subchapter; (2) "ADFA Act" means the Arkansas Development Finance Authority Act, §§ 15-5-101 - 15-5-106 , 15-5-201 - 15-5-211 , 15-5-213 , and 15-5-301 - 15-5-316 ; (3) "Amortization payments" means the periodic, that is, monthly, semiannual, annual, etc., payments of interest, whether at a fixed or variable rate, or premium, if any, and installments of principal of qualified bonds as required by the trust indenture relating to the bonds; (4) "Authority" means the Arkansas Development Finance Authority; (5) "Board" means the Board of Directors of the Arkansas Development Finance Authority; (6) "Bond fund" means the Guaranty Bond Fund authorized in this subchapter from which bonds issued by the authority for the purpose of meeting the obligations of the Bond Guaranty Reserve Account are payable; (7) "Bond Guaranty Reserve Account" means the account created in this subchapter for the purpose of: (A) Meeting amortization payments of qualified bonds guaranteed by the authority; and (B) Enhancing and supporting the credit of those qualified bonds; (8) "Borrower" means the individual, entity, firm, or corporation, whether for profit or nonprofit, or city, county, other political subdivision, or state agency charged with developing the project under the terms of the trust indenture relating to qualified bonds; (9) "Project" means the project for which the proceeds of qualified bonds are utilized; (10) "Qualified bonds" means: (A) Revenue bonds validly issued by the authority in accordance with the provisions of the Arkansas Development Finance Authority Act, §§ 15-5-101 - 15-5-106 , 15-5-201 - 15-5-211 , 15-5-213 , and 15-5-301 - 15-5-316 ; (B) An obligation issued by the designated investor group under the Venture Capital Investment Act of 2001, § 15-5-1401 et seq.; or (C) Revenue bonds validly issued by a city or county under the Municipalities and Counties Industrial Development Revenue Bond Law, § 14-164-201 et seq.; (11) "State" means the State of Arkansas; and (12) "Supplemental Guaranty Reserve Account" means an account which may be established by the authority for the purpose of enhancing the Bond Guaranty Reserve Account. Acts 1985, No. 340, § 3; 1985, No. 505, § 3; A.S.A. 1947, § 13-2926; Acts 1987, No. 1042, § 1; 1993, No. 185, § 1; 1999, No. 429, § 3; 2001, No. 1791, § 11; 2005, No. 83, § 1; 2007, No. 827, § 133.

As used in this subchapter:

(1) "Act" means this subchapter;

(2) "ADFA Act" means the Arkansas Development Finance Authority Act, §§ 15-5-101 - 15-5-106 , 15-5-201 - 15-5-211 , 15-5-213 , and 15-5-301 - 15-5-316 ;

(3) "Amortization payments" means the periodic, that is, monthly, semiannual, annual, etc., payments of interest, whether at a fixed or variable rate, or premium, if any, and installments of principal of qualified bonds as required by the trust indenture relating to the bonds;

(4) "Authority" means the Arkansas Development Finance Authority;

(5) "Board" means the Board of Directors of the Arkansas Development Finance Authority;

(6) "Bond fund" means the Guaranty Bond Fund authorized in this subchapter from which bonds issued by the authority for the purpose of meeting the obligations of the Bond Guaranty Reserve Account are payable;

(7) "Bond Guaranty Reserve Account" means the account created in this subchapter for the purpose of: (A) Meeting amortization payments of qualified bonds guaranteed by the authority; and (B) Enhancing and supporting the credit of those qualified bonds;

(A) Meeting amortization payments of qualified bonds guaranteed by the authority; and

(B) Enhancing and supporting the credit of those qualified bonds;

(8) "Borrower" means the individual, entity, firm, or corporation, whether for profit or nonprofit, or city, county, other political subdivision, or state agency charged with developing the project under the terms of the trust indenture relating to qualified bonds;

(9) "Project" means the project for which the proceeds of qualified bonds are utilized;

(10) "Qualified bonds" means: (A) Revenue bonds validly issued by the authority in accordance with the provisions of the Arkansas Development Finance Authority Act, §§ 15-5-101 - 15-5-106 , 15-5-201 - 15-5-211 , 15-5-213 , and 15-5-301 - 15-5-316 ; (B) An obligation issued by the designated investor group under the Venture Capital Investment Act of 2001, § 15-5-1401 et seq.; or (C) Revenue bonds validly issued by a city or county under the Municipalities and Counties Industrial Development Revenue Bond Law, § 14-164-201 et seq.;

(A) Revenue bonds validly issued by the authority in accordance with the provisions of the Arkansas Development Finance Authority Act, §§ 15-5-101 - 15-5-106 , 15-5-201 - 15-5-211 , 15-5-213 , and 15-5-301 - 15-5-316 ;

(B) An obligation issued by the designated investor group under the Venture Capital Investment Act of 2001, § 15-5-1401 et seq.; or

(C) Revenue bonds validly issued by a city or county under the Municipalities and Counties Industrial Development Revenue Bond Law, § 14-164-201 et seq.;

(11) "State" means the State of Arkansas; and

(12) "Supplemental Guaranty Reserve Account" means an account which may be established by the authority for the purpose of enhancing the Bond Guaranty Reserve Account.

Acts 1985, No. 340, § 3; 1985, No. 505, § 3; A.S.A. 1947, § 13-2926; Acts 1987, No. 1042, § 1; 1993, No. 185, § 1; 1999, No. 429, § 3; 2001, No. 1791, § 11; 2005, No. 83, § 1; 2007, No. 827, § 133.
Ark. Code Ann. § 15-72-1106 — AR Code / Title 15 / Chapter 72 / Subchapter 11 / Section 15-72-1106
Rights of purchasers
Status: in_force

(a) A purchaser takes free of an oil and gas lien otherwise applicable to the oil or gas purchased and is relieved of an obligation to hold revenue or proceeds from the sale of production for the benefit of the owners legally entitled to the revenue or proceeds from the sale of production only in the event that either of the following occurs: (1) The purchaser is deemed to be a buyer in the ordinary course of the first purchaser's business as defined in Article 9; or (2) The purchaser has paid all of the consideration due the first purchaser, including by exchange of oil or gas, net-out or set-off, under all applicable enforceable contracts in existence at the time of the payment. (b) Notwithstanding subsection (a) of this section, the oil and gas lien will continue uninterrupted in the proceeds paid to or otherwise due the first purchaser. (c) Except as specifically set forth in this section, an oil and gas lien has priority over the rights of a purchaser. Added by Act 2021, No. 275,§ 1, eff. 7/28/2021.

(a) A purchaser takes free of an oil and gas lien otherwise applicable to the oil or gas purchased and is relieved of an obligation to hold revenue or proceeds from the sale of production for the benefit of the owners legally entitled to the revenue or proceeds from the sale of production only in the event that either of the following occurs: (1) The purchaser is deemed to be a buyer in the ordinary course of the first purchaser's business as defined in Article 9; or (2) The purchaser has paid all of the consideration due the first purchaser, including by exchange of oil or gas, net-out or set-off, under all applicable enforceable contracts in existence at the time of the payment.

(1) The purchaser is deemed to be a buyer in the ordinary course of the first purchaser's business as defined in Article 9; or

(2) The purchaser has paid all of the consideration due the first purchaser, including by exchange of oil or gas, net-out or set-off, under all applicable enforceable contracts in existence at the time of the payment.

(b) Notwithstanding subsection (a) of this section, the oil and gas lien will continue uninterrupted in the proceeds paid to or otherwise due the first purchaser.

(c) Except as specifically set forth in this section, an oil and gas lien has priority over the rights of a purchaser.

Added by Act 2021, No. 275,§ 1, eff. 7/28/2021.
Ark. Code Ann. § 15-72-805 — AR Code / Title 15 / Chapter 72 / Subchapter 8 / Section 15-72-805
Confidential treatment
Status: in_force

(a) Information furnished pursuant to this subchapter and designated as confidential shall be maintained as confidential by the Director of the Arkansas Energy Office and any person who obtains information that he or she knows to be confidential under this subchapter. (b) Nothing in this section shall prohibit the use of confidential information to prepare statistics or other general data for publication, so presented as to prevent identification of particular persons. Acts 1983, No. 377, § 4; A.S.A. 1947, § 53-1504; Acts 2007, No. 554, § 4.

(a) Information furnished pursuant to this subchapter and designated as confidential shall be maintained as confidential by the Director of the Arkansas Energy Office and any person who obtains information that he or she knows to be confidential under this subchapter.

(b) Nothing in this section shall prohibit the use of confidential information to prepare statistics or other general data for publication, so presented as to prevent identification of particular persons.

Acts 1983, No. 377, § 4; A.S.A. 1947, § 53-1504; Acts 2007, No. 554, § 4.
Ark. Code Ann. § 15-57-314 — AR Code / Title 15 / Chapter 57 / Subchapter 3 / Section 15-57-314
Extension of permit
Status: in_force

Where the area for which a permit is in effect is not mined or where open-cut mining operations have not been completed during the permit term, the permit as to such area may be extended by the Division of Environmental Quality on the terms and conditions required by the division. Amended by Act 2019, No. 910,§ 3093, eff. 7/1/2019. Acts 1991, No. 827, § 13.

Where the area for which a permit is in effect is not mined or where open-cut mining operations have not been completed during the permit term, the permit as to such area may be extended by the Division of Environmental Quality on the terms and conditions required by the division.

Amended by Act 2019, No. 910,§ 3093, eff. 7/1/2019.

Acts 1991, No. 827, § 13.
Ark. Code Ann. § 15-20-305 — AR Code / Title 15 / Chapter 20 / Subchapter 3 / Section 15-20-305
Commission - Members
Status: in_force

(a) (1) The Arkansas Natural Heritage Commission shall consist of fifteen (15) members. (2) (A) (i) Nine (9) of the members shall be appointed by the Governor from persons with an interest in the preservation of natural areas, with two (2) members to be appointed from each congressional district and one (1) member to be appointed from the state at large. (ii) One (1) member appointed by the Governor shall be actively or principally engaged, or shall have been actively or principally engaged, in the production of agriculture on property owned by the member. (iii) One (1) member appointed by the Governor shall have an interest in the protection, restoration, and management of the state's habitats, plants, and animals. (B) Three (3) members shall be appointed by the Speaker of the House of Representatives to serve at the pleasure of the Speaker of the House of Representatives. (C) Three (3) members shall be appointed by the President Pro Tempore of the Senate to serve at the pleasure of the President Pro Tempore of the Senate. (b) Any successor appointments and appointments to vacancies on the commission shall be appointed in the same manner. (c) Members appointed by the Governor shall serve terms of nine (9) years, and all members shall serve until their successors have been appointed and qualified. (d) When an appointment is made to fill a vacancy, the appointment shall be for the remaining term of the position vacated. (e) A member of the commission appointed by the Governor who has served two (2) consecutive full terms shall not be eligible for reappointment for a period of one (1) year following the expiration of the second full term. (f) Members of the commission appointed by the Governor shall be subject to confirmation by the Senate. (g) Members of the commission shall serve without compensation, except that they may receive expense reimbursement and stipends in accordance with § 25-16-901 et seq. (h) In addition to the per diem, members shall be paid a mileage allowance equal to the rate designated for state employees for each mile in traveling from their homes and returning. Amended by Act 2023, No. 665,§ 1, eff. 8/1/2023. Amended by Act 2015, No. 1100,§ 15, eff. 7/22/2015. Acts 1973, No. 112, §§ 4-6; A.S.A. 1947, §§ 9-1404 -- 9-1406; Acts 1989 (1st Ex. Sess.), No. 9, § 55; 1997, No. 250, § 105; 2001, No. 1288, § 11.

(a) (1) The Arkansas Natural Heritage Commission shall consist of fifteen (15) members. (2) (A) (i) Nine (9) of the members shall be appointed by the Governor from persons with an interest in the preservation of natural areas, with two (2) members to be appointed from each congressional district and one (1) member to be appointed from the state at large. (ii) One (1) member appointed by the Governor shall be actively or principally engaged, or shall have been actively or principally engaged, in the production of agriculture on property owned by the member. (iii) One (1) member appointed by the Governor shall have an interest in the protection, restoration, and management of the state's habitats, plants, and animals. (B) Three (3) members shall be appointed by the Speaker of the House of Representatives to serve at the pleasure of the Speaker of the House of Representatives. (C) Three (3) members shall be appointed by the President Pro Tempore of the Senate to serve at the pleasure of the President Pro Tempore of the Senate.

(1) The Arkansas Natural Heritage Commission shall consist of fifteen (15) members.

(2) (A) (i) Nine (9) of the members shall be appointed by the Governor from persons with an interest in the preservation of natural areas, with two (2) members to be appointed from each congressional district and one (1) member to be appointed from the state at large. (ii) One (1) member appointed by the Governor shall be actively or principally engaged, or shall have been actively or principally engaged, in the production of agriculture on property owned by the member. (iii) One (1) member appointed by the Governor shall have an interest in the protection, restoration, and management of the state's habitats, plants, and animals. (B) Three (3) members shall be appointed by the Speaker of the House of Representatives to serve at the pleasure of the Speaker of the House of Representatives. (C) Three (3) members shall be appointed by the President Pro Tempore of the Senate to serve at the pleasure of the President Pro Tempore of the Senate.

(A) (i) Nine (9) of the members shall be appointed by the Governor from persons with an interest in the preservation of natural areas, with two (2) members to be appointed from each congressional district and one (1) member to be appointed from the state at large. (ii) One (1) member appointed by the Governor shall be actively or principally engaged, or shall have been actively or principally engaged, in the production of agriculture on property owned by the member. (iii) One (1) member appointed by the Governor shall have an interest in the protection, restoration, and management of the state's habitats, plants, and animals.

(i) Nine (9) of the members shall be appointed by the Governor from persons with an interest in the preservation of natural areas, with two (2) members to be appointed from each congressional district and one (1) member to be appointed from the state at large.

(ii) One (1) member appointed by the Governor shall be actively or principally engaged, or shall have been actively or principally engaged, in the production of agriculture on property owned by the member.

(iii) One (1) member appointed by the Governor shall have an interest in the protection, restoration, and management of the state's habitats, plants, and animals.

(B) Three (3) members shall be appointed by the Speaker of the House of Representatives to serve at the pleasure of the Speaker of the House of Representatives.

(C) Three (3) members shall be appointed by the President Pro Tempore of the Senate to serve at the pleasure of the President Pro Tempore of the Senate.

(b) Any successor appointments and appointments to vacancies on the commission shall be appointed in the same manner.

(c) Members appointed by the Governor shall serve terms of nine (9) years, and all members shall serve until their successors have been appointed and qualified.

(d) When an appointment is made to fill a vacancy, the appointment shall be for the remaining term of the position vacated.

(e) A member of the commission appointed by the Governor who has served two (2) consecutive full terms shall not be eligible for reappointment for a period of one (1) year following the expiration of the second full term.

(f) Members of the commission appointed by the Governor shall be subject to confirmation by the Senate.

(g) Members of the commission shall serve without compensation, except that they may receive expense reimbursement and stipends in accordance with § 25-16-901 et seq.

(h) In addition to the per diem, members shall be paid a mileage allowance equal to the rate designated for state employees for each mile in traveling from their homes and returning.

Amended by Act 2023, No. 665,§ 1, eff. 8/1/2023.

Amended by Act 2015, No. 1100,§ 15, eff. 7/22/2015.

Acts 1973, No. 112, §§ 4-6; A.S.A. 1947, §§ 9-1404 -- 9-1406; Acts 1989 (1st Ex. Sess.), No. 9, § 55; 1997, No. 250, § 105; 2001, No. 1288, § 11.
Ark. Code Ann. § 15-43-204 — AR Code / Title 15 / Chapter 43 / Subchapter 2 / Section 15-43-204
Local election to redetermine doe killing area
Status: in_force

(a) (1) Whenever fifty (50) or more qualified electors residing within an area wholly or partly located within their particular county that has been designated by regulation of the Arkansas State Game and Fish Commission as a doe-killing area petition the appropriate county court, praying that an election be held to determine whether or not such an area or portion thereof should remain a doe-killing area, the county court shall order a special election in accordance with § 7-11-201 et seq. to be held at the next special election date under § 7-11-205 . (2) Only those qualified electors residing within the affected area or portion thereof that is located within the county where the election is held may vote in the election. (3) Except as provided in this section, the election shall be held in conformity with the general election laws of this state. (b) At the election it shall not be necessary to have a ballot title, but there shall be printed on the ballot the following: Click here to view form. (c) (1) If a majority of the qualified electors voting at the election vote for the commission regulation, the area or portion thereof within the county shall remain a doe-killing area in accordance with the regulation. (2) If a majority of the qualified electors voting at the election vote against the commission regulation, the regulation shall no longer have any force or effect with respect to the area or portion thereof located within the county wherein the election was held, and the killing of doe deer therein shall be unlawful. Amended by Act 2021, No. 610,§ 23, eff. 1/1/2022. Acts 1959, No. 70, §§ 1-3; A.S.A. 1947, §§ 47-323 -- 47-325; Acts 2005, No. 2145, § 59; 2007, No. 1049, § 81; 2009, No. 1480, § 99.

(a) (1) Whenever fifty (50) or more qualified electors residing within an area wholly or partly located within their particular county that has been designated by regulation of the Arkansas State Game and Fish Commission as a doe-killing area petition the appropriate county court, praying that an election be held to determine whether or not such an area or portion thereof should remain a doe-killing area, the county court shall order a special election in accordance with § 7-11-201 et seq. to be held at the next special election date under § 7-11-205 . (2) Only those qualified electors residing within the affected area or portion thereof that is located within the county where the election is held may vote in the election. (3) Except as provided in this section, the election shall be held in conformity with the general election laws of this state.

(1) Whenever fifty (50) or more qualified electors residing within an area wholly or partly located within their particular county that has been designated by regulation of the Arkansas State Game and Fish Commission as a doe-killing area petition the appropriate county court, praying that an election be held to determine whether or not such an area or portion thereof should remain a doe-killing area, the county court shall order a special election in accordance with § 7-11-201 et seq. to be held at the next special election date under § 7-11-205 .

(2) Only those qualified electors residing within the affected area or portion thereof that is located within the county where the election is held may vote in the election.

(3) Except as provided in this section, the election shall be held in conformity with the general election laws of this state.

(b) At the election it shall not be necessary to have a ballot title, but there shall be printed on the ballot the following: Click here to view form.

Click here to view form.

(c) (1) If a majority of the qualified electors voting at the election vote for the commission regulation, the area or portion thereof within the county shall remain a doe-killing area in accordance with the regulation. (2) If a majority of the qualified electors voting at the election vote against the commission regulation, the regulation shall no longer have any force or effect with respect to the area or portion thereof located within the county wherein the election was held, and the killing of doe deer therein shall be unlawful.

(1) If a majority of the qualified electors voting at the election vote for the commission regulation, the area or portion thereof within the county shall remain a doe-killing area in accordance with the regulation.

(2) If a majority of the qualified electors voting at the election vote against the commission regulation, the regulation shall no longer have any force or effect with respect to the area or portion thereof located within the county wherein the election was held, and the killing of doe deer therein shall be unlawful.

Amended by Act 2021, No. 610,§ 23, eff. 1/1/2022.

Acts 1959, No. 70, §§ 1-3; A.S.A. 1947, §§ 47-323 -- 47-325; Acts 2005, No. 2145, § 59; 2007, No. 1049, § 81; 2009, No. 1480, § 99.

43_204_1 - Attachment
Ark. Code Ann. § 15-76-319 — AR Code / Title 15 / Chapter 76 / Subchapter 3 / Section 15-76-319
Abandoned wells
Status: in_force

(a) Each abandoned well shall be plugged in the manner and within the time required by rules prescribed by the Oil and Gas Commission, and the owner of the well shall give notice, upon the form the commission may prescribe, of the owner's intention to abandon any well. (b) No well shall be abandoned until notice has been given, and no fee shall be required to be paid with the notice. Amended by Act 2019, No. 315,§ 1282, eff. 7/24/2019. Acts 1979, No. 937, § 12; 1981, No. 264, § 4; A.S.A. 1947, § 53-1312.

(a) Each abandoned well shall be plugged in the manner and within the time required by rules prescribed by the Oil and Gas Commission, and the owner of the well shall give notice, upon the form the commission may prescribe, of the owner's intention to abandon any well.

(b) No well shall be abandoned until notice has been given, and no fee shall be required to be paid with the notice.

Amended by Act 2019, No. 315,§ 1282, eff. 7/24/2019.

Acts 1979, No. 937, § 12; 1981, No. 264, § 4; A.S.A. 1947, § 53-1312.
Ark. Code Ann. § 15-22-1002 — AR Code / Title 15 / Chapter 22 / Subchapter 10 / Section 15-22-1002
Policy statement
Status: in_force

The purpose of this subchapter is to: (1) Promote, in concert with federal and other state programs as well as interested parties, the restoration, maintenance, and conservation of aquatic resources, including wetlands, streams, and deep water aquatic habitats; (2) Improve cooperative efforts among private, nonprofit, and public entities for the restoration, management, and protection of aquatic resources; (3) Offset losses of aquatic resources values caused by activities that otherwise comply with state and federal law; (4) Encourage a predictable, efficient regulatory framework for environmentally acceptable mitigation; (5) Provide an option for accomplishing off-site mitigation when the mitigation is required under a dredge or fill permit; and (6) Supplement and not in any way abrogate any state or federal law relating to aquatic resources. Acts 1995, No. 562, § 3; 2007, No. 476, § 1.

The purpose of this subchapter is to:

(1) Promote, in concert with federal and other state programs as well as interested parties, the restoration, maintenance, and conservation of aquatic resources, including wetlands, streams, and deep water aquatic habitats;

(2) Improve cooperative efforts among private, nonprofit, and public entities for the restoration, management, and protection of aquatic resources;

(3) Offset losses of aquatic resources values caused by activities that otherwise comply with state and federal law;

(4) Encourage a predictable, efficient regulatory framework for environmentally acceptable mitigation;

(5) Provide an option for accomplishing off-site mitigation when the mitigation is required under a dredge or fill permit; and

(6) Supplement and not in any way abrogate any state or federal law relating to aquatic resources.

Acts 1995, No. 562, § 3; 2007, No. 476, § 1.
Ark. Code Ann. § 15-14-103 — AR Code / Title 15 / Chapter 14 / Section 15-14-103
Arkansas Retirement Community Program - Creation
Status: in_force

(a) The Arkansas Association of Development Organizations shall establish and maintain an Arkansas Retirement Community Program under which retirees and potential retirees are encouraged to make their homes in Arkansas communities that have met the criteria for certification by the association as an Arkansas retirement community. (b) The mission of the program is to: (1) Promote Arkansas as a retirement destination to retirees and potential retirees both inside and outside Arkansas; (2) Assist Arkansas communities in their efforts to market themselves as desirable retirement locations and to develop communities that retirees would find attractive for a retirement lifestyle; (3) Assist in the development of retirement communities for economic development purposes and as a means of providing a potential workforce and enriching Arkansas communities; and (4) Encourage tourism to Arkansas. Acts 2007, No. 808, § 1; 2011, No. 1048, § 2.

(a) The Arkansas Association of Development Organizations shall establish and maintain an Arkansas Retirement Community Program under which retirees and potential retirees are encouraged to make their homes in Arkansas communities that have met the criteria for certification by the association as an Arkansas retirement community.

(b) The mission of the program is to: (1) Promote Arkansas as a retirement destination to retirees and potential retirees both inside and outside Arkansas; (2) Assist Arkansas communities in their efforts to market themselves as desirable retirement locations and to develop communities that retirees would find attractive for a retirement lifestyle; (3) Assist in the development of retirement communities for economic development purposes and as a means of providing a potential workforce and enriching Arkansas communities; and (4) Encourage tourism to Arkansas.

(1) Promote Arkansas as a retirement destination to retirees and potential retirees both inside and outside Arkansas;

(2) Assist Arkansas communities in their efforts to market themselves as desirable retirement locations and to develop communities that retirees would find attractive for a retirement lifestyle;

(3) Assist in the development of retirement communities for economic development purposes and as a means of providing a potential workforce and enriching Arkansas communities; and

(4) Encourage tourism to Arkansas.

Acts 2007, No. 808, § 1; 2011, No. 1048, § 2.
Ark. Code Ann. § 15-42-128 — AR Code / Title 15 / Chapter 42 / Subchapter 1 / Section 15-42-128
Lifetime hunting licenses and fishing licenses for resident disabled veterans - Definition
Status: in_force

(a) The General Assembly finds and determines that: (1) The regulation of hunting and fishing, and the issuance of hunting licenses and fishing licenses, in the state is a primary responsibility of the Arkansas State Game and Fish Commission under Arkansas Constitution, Amendment 35; (2) Disabled veterans of Arkansas deserve to be recognized and honored for their service and sacrifice in honorably serving the nation and this state; (3) The establishment and issuance of lifetime hunting licenses and lifetime fishing licenses in this state is a small way to recognize and honor the service of disabled veterans in this state; and (4) It is the purpose and intent of this section to authorize and encourage the commission to establish and issue lifetime hunting licenses, lifetime fishing licenses, and lifetime combination hunting and fishing licenses for eligible disabled veterans in this state. (b) The commission may establish for issuance lifetime hunting licenses, lifetime fishing licenses, and lifetime combination hunting and fishing licenses for eligible disabled veterans in this state. (c) As used in this section, "disabled veteran" means a veteran who is a resident of the state and has been determined by the United States Department of Veterans Affairs to be: (1) A one-hundred-percent totally and permanently disabled service-connected veteran; or (2) For purposes of subsection (f) of this section only, a disabled veteran who: (A) Has a service-connected disability rating of seventy percent (70%) or higher; or (B) Has a service-connected disability rating of fifty percent (50%) or higher and is a recipient of the Purple Heart medal. (d) A disabled veteran may obtain a lifetime license to hunt or a lifetime license to fish under this section by: (1) Applying to the commission; (2) Furnishing information required by the commission to verify eligibility; and (3) Paying the following fees: (A) One dollar and fifty cents ($1.50) for a lifetime hunting license; and (B) One dollar and fifty cents ($1.50) for a lifetime fishing license. (e) A lifetime hunting license, lifetime fishing license, or lifetime combination hunting and fishing license issued under this section shall: (1) Be in the same form and contain the same information as other hunting licenses or fishing licenses issued by the commission; (2) Contain any other information required by the commission; and (3) Be plainly stamped either: (A) "DISABLED VETERAN"; or (B) "DISABLED VETERAN - PURPLE HEART". (f) A disabled veteran may obtain a lifetime combination hunting and fishing license, which includes a lifetime trout stamp and a lifetime state duck stamp, under this section by: (1) Applying to the commission; (2) Furnishing information required by the commission to verify eligibility; and (3) Paying a fee of fifty-two dollars and fifty cents ($52.50). (g) The commission may promulgate rules as necessary to implement this section. Amended by Act 2019, No. 729,§ 1, eff. 7/24/2019. Added by Act 2013, No. 1253,§ 4, eff. 8/16/2013.

(a) The General Assembly finds and determines that: (1) The regulation of hunting and fishing, and the issuance of hunting licenses and fishing licenses, in the state is a primary responsibility of the Arkansas State Game and Fish Commission under Arkansas Constitution, Amendment 35; (2) Disabled veterans of Arkansas deserve to be recognized and honored for their service and sacrifice in honorably serving the nation and this state; (3) The establishment and issuance of lifetime hunting licenses and lifetime fishing licenses in this state is a small way to recognize and honor the service of disabled veterans in this state; and (4) It is the purpose and intent of this section to authorize and encourage the commission to establish and issue lifetime hunting licenses, lifetime fishing licenses, and lifetime combination hunting and fishing licenses for eligible disabled veterans in this state.

(1) The regulation of hunting and fishing, and the issuance of hunting licenses and fishing licenses, in the state is a primary responsibility of the Arkansas State Game and Fish Commission under Arkansas Constitution, Amendment 35;

(2) Disabled veterans of Arkansas deserve to be recognized and honored for their service and sacrifice in honorably serving the nation and this state;

(3) The establishment and issuance of lifetime hunting licenses and lifetime fishing licenses in this state is a small way to recognize and honor the service of disabled veterans in this state; and

(4) It is the purpose and intent of this section to authorize and encourage the commission to establish and issue lifetime hunting licenses, lifetime fishing licenses, and lifetime combination hunting and fishing licenses for eligible disabled veterans in this state.

(b) The commission may establish for issuance lifetime hunting licenses, lifetime fishing licenses, and lifetime combination hunting and fishing licenses for eligible disabled veterans in this state.

(c) As used in this section, "disabled veteran" means a veteran who is a resident of the state and has been determined by the United States Department of Veterans Affairs to be: (1) A one-hundred-percent totally and permanently disabled service-connected veteran; or (2) For purposes of subsection (f) of this section only, a disabled veteran who: (A) Has a service-connected disability rating of seventy percent (70%) or higher; or (B) Has a service-connected disability rating of fifty percent (50%) or higher and is a recipient of the Purple Heart medal.

(1) A one-hundred-percent totally and permanently disabled service-connected veteran; or

(2) For purposes of subsection (f) of this section only, a disabled veteran who: (A) Has a service-connected disability rating of seventy percent (70%) or higher; or (B) Has a service-connected disability rating of fifty percent (50%) or higher and is a recipient of the Purple Heart medal.

(A) Has a service-connected disability rating of seventy percent (70%) or higher; or

(B) Has a service-connected disability rating of fifty percent (50%) or higher and is a recipient of the Purple Heart medal.

(d) A disabled veteran may obtain a lifetime license to hunt or a lifetime license to fish under this section by: (1) Applying to the commission; (2) Furnishing information required by the commission to verify eligibility; and (3) Paying the following fees: (A) One dollar and fifty cents ($1.50) for a lifetime hunting license; and (B) One dollar and fifty cents ($1.50) for a lifetime fishing license.

(1) Applying to the commission;

(2) Furnishing information required by the commission to verify eligibility; and

(3) Paying the following fees: (A) One dollar and fifty cents ($1.50) for a lifetime hunting license; and (B) One dollar and fifty cents ($1.50) for a lifetime fishing license.

(A) One dollar and fifty cents ($1.50) for a lifetime hunting license; and

(B) One dollar and fifty cents ($1.50) for a lifetime fishing license.

(e) A lifetime hunting license, lifetime fishing license, or lifetime combination hunting and fishing license issued under this section shall: (1) Be in the same form and contain the same information as other hunting licenses or fishing licenses issued by the commission; (2) Contain any other information required by the commission; and (3) Be plainly stamped either: (A) "DISABLED VETERAN"; or (B) "DISABLED VETERAN - PURPLE HEART".

(1) Be in the same form and contain the same information as other hunting licenses or fishing licenses issued by the commission;

(2) Contain any other information required by the commission; and

(3) Be plainly stamped either: (A) "DISABLED VETERAN"; or (B) "DISABLED VETERAN - PURPLE HEART".

(A) "DISABLED VETERAN"; or

(B) "DISABLED VETERAN - PURPLE HEART".

(f) A disabled veteran may obtain a lifetime combination hunting and fishing license, which includes a lifetime trout stamp and a lifetime state duck stamp, under this section by: (1) Applying to the commission; (2) Furnishing information required by the commission to verify eligibility; and (3) Paying a fee of fifty-two dollars and fifty cents ($52.50).

(1) Applying to the commission;

(2) Furnishing information required by the commission to verify eligibility; and

(3) Paying a fee of fifty-two dollars and fifty cents ($52.50).

(g) The commission may promulgate rules as necessary to implement this section.

Amended by Act 2019, No. 729,§ 1, eff. 7/24/2019.

Added by Act 2013, No. 1253,§ 4, eff. 8/16/2013.
Ark. Code Ann. § 15-71-115 — AR Code / Title 15 / Chapter 71 / Section 15-71-115
Abandoned and Orphaned Well Plugging Fund
Status: in_force

(a) There is created on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a special revenue fund to be known as the "Abandoned and Orphaned Well Plugging Fund". (b) (1) The fund shall receive funds from: (A) Fees assessed by the Oil and Gas Commission; (B) Forfeited bonds; (C) Proceeds from the sale of hydrocarbons and production equipment located at the site of abandoned and orphaned wells; (D) Grants and gifts from private and public sources; and (E) Any other revenue as may be authorized by law. (2) All moneys collected under the fund shall be deposited into the State Treasury to the credit of the fund as special revenues. (c) (1) The fund shall be used by the commission to: (A) Make expenditures through contracts to plug abandoned and orphaned wells and to remediate associated production facilities; (B) Award grants to landowners to plug abandoned and orphaned wells and to remediate associated production facilities; and (C) Make expenditures for emergency repairs to wells or production facilities endangering the public health and safety. (2) Expenditures from the fund may be authorized by the commission through contracts or grants for the payment of plugging costs or the cost of performing corrective work as follows: (A) If after the commission gives the well operator notice and hearing and finds that an abandoned well must be plugged, that a leaking well must be plugged, replugged, or repaired, or that a well site must be restored and the well operator fails to perform the required plugging, replugging, repair, or restoration work within the time frame prescribed in the commission order, the commission may authorize fund expenditures to plug, replug, or repair the well or wells and to restore the well site in accordance with commission rules; and (B) If the abandoned well or well site operator cannot be identified or located for purposes of notice and hearing, the commission may administratively determine the well or well site to be orphaned, as defined by commission rules, and may authorize expenditures from the fund to plug the orphaned well and restore the orphaned well site. (d) The fund may be used by the commission to provide security in the event an oil or gas well operator fails to perform plugging responsibilities under the provisions of § 15-72-217 or fails to correct well conditions that create an imminent danger to the health or safety of the public or threaten significant environmental harm or damage to property. Acts 2005, No. 1265, § 1; 2005, No. 1267, § 3.

(a) There is created on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a special revenue fund to be known as the "Abandoned and Orphaned Well Plugging Fund".

(b) (1) The fund shall receive funds from: (A) Fees assessed by the Oil and Gas Commission; (B) Forfeited bonds; (C) Proceeds from the sale of hydrocarbons and production equipment located at the site of abandoned and orphaned wells; (D) Grants and gifts from private and public sources; and (E) Any other revenue as may be authorized by law. (2) All moneys collected under the fund shall be deposited into the State Treasury to the credit of the fund as special revenues.

(1) The fund shall receive funds from: (A) Fees assessed by the Oil and Gas Commission; (B) Forfeited bonds; (C) Proceeds from the sale of hydrocarbons and production equipment located at the site of abandoned and orphaned wells; (D) Grants and gifts from private and public sources; and (E) Any other revenue as may be authorized by law.

(A) Fees assessed by the Oil and Gas Commission;

(B) Forfeited bonds;

(C) Proceeds from the sale of hydrocarbons and production equipment located at the site of abandoned and orphaned wells;

(D) Grants and gifts from private and public sources; and

(E) Any other revenue as may be authorized by law.

(2) All moneys collected under the fund shall be deposited into the State Treasury to the credit of the fund as special revenues.

(c) (1) The fund shall be used by the commission to: (A) Make expenditures through contracts to plug abandoned and orphaned wells and to remediate associated production facilities; (B) Award grants to landowners to plug abandoned and orphaned wells and to remediate associated production facilities; and (C) Make expenditures for emergency repairs to wells or production facilities endangering the public health and safety. (2) Expenditures from the fund may be authorized by the commission through contracts or grants for the payment of plugging costs or the cost of performing corrective work as follows: (A) If after the commission gives the well operator notice and hearing and finds that an abandoned well must be plugged, that a leaking well must be plugged, replugged, or repaired, or that a well site must be restored and the well operator fails to perform the required plugging, replugging, repair, or restoration work within the time frame prescribed in the commission order, the commission may authorize fund expenditures to plug, replug, or repair the well or wells and to restore the well site in accordance with commission rules; and (B) If the abandoned well or well site operator cannot be identified or located for purposes of notice and hearing, the commission may administratively determine the well or well site to be orphaned, as defined by commission rules, and may authorize expenditures from the fund to plug the orphaned well and restore the orphaned well site.

(1) The fund shall be used by the commission to: (A) Make expenditures through contracts to plug abandoned and orphaned wells and to remediate associated production facilities; (B) Award grants to landowners to plug abandoned and orphaned wells and to remediate associated production facilities; and (C) Make expenditures for emergency repairs to wells or production facilities endangering the public health and safety.

(A) Make expenditures through contracts to plug abandoned and orphaned wells and to remediate associated production facilities;

(B) Award grants to landowners to plug abandoned and orphaned wells and to remediate associated production facilities; and

(C) Make expenditures for emergency repairs to wells or production facilities endangering the public health and safety.

(2) Expenditures from the fund may be authorized by the commission through contracts or grants for the payment of plugging costs or the cost of performing corrective work as follows: (A) If after the commission gives the well operator notice and hearing and finds that an abandoned well must be plugged, that a leaking well must be plugged, replugged, or repaired, or that a well site must be restored and the well operator fails to perform the required plugging, replugging, repair, or restoration work within the time frame prescribed in the commission order, the commission may authorize fund expenditures to plug, replug, or repair the well or wells and to restore the well site in accordance with commission rules; and (B) If the abandoned well or well site operator cannot be identified or located for purposes of notice and hearing, the commission may administratively determine the well or well site to be orphaned, as defined by commission rules, and may authorize expenditures from the fund to plug the orphaned well and restore the orphaned well site.

(A) If after the commission gives the well operator notice and hearing and finds that an abandoned well must be plugged, that a leaking well must be plugged, replugged, or repaired, or that a well site must be restored and the well operator fails to perform the required plugging, replugging, repair, or restoration work within the time frame prescribed in the commission order, the commission may authorize fund expenditures to plug, replug, or repair the well or wells and to restore the well site in accordance with commission rules; and

(B) If the abandoned well or well site operator cannot be identified or located for purposes of notice and hearing, the commission may administratively determine the well or well site to be orphaned, as defined by commission rules, and may authorize expenditures from the fund to plug the orphaned well and restore the orphaned well site.

(d) The fund may be used by the commission to provide security in the event an oil or gas well operator fails to perform plugging responsibilities under the provisions of § 15-72-217 or fails to correct well conditions that create an imminent danger to the health or safety of the public or threaten significant environmental harm or damage to property.

Acts 2005, No. 1265, § 1; 2005, No. 1267, § 3.
Ark. Code Ann. § 15-4-3307 — AR Code / Title 15 / Chapter 4 / Subchapter 33 / Section 15-4-3307
Definition
Status: in_force

As used in this subchapter, "convertible financing structure" means an investment mechanism that converts into equity at a subsequent event, including without limitation convertible debt, convertible equity, and a convertible note. Added by Act 2015, No. 164,§ 6, eff. 7/22/2015.

As used in this subchapter, "convertible financing structure" means an investment mechanism that converts into equity at a subsequent event, including without limitation convertible debt, convertible equity, and a convertible note.

Added by Act 2015, No. 164,§ 6, eff. 7/22/2015.
Ark. Code Ann. § 15-20-606 — AR Code / Title 15 / Chapter 20 / Subchapter 6 / Section 15-20-606
Liability of owners limited
Status: in_force

Neither the owner of a cave nor his or her employees or agents acting within the scope of their authority shall be liable for injuries sustained by any person using the cave for recreational or scientific purposes if no charge has been made for the use of the cave. This section is supplemental to any other limitation of landowner liability which may be in effect. Acts 1989, No. 523, § 6.

Neither the owner of a cave nor his or her employees or agents acting within the scope of their authority shall be liable for injuries sustained by any person using the cave for recreational or scientific purposes if no charge has been made for the use of the cave. This section is supplemental to any other limitation of landowner liability which may be in effect.

Acts 1989, No. 523, § 6.
Ark. Code Ann. § 15-55-214 — AR Code / Title 15 / Chapter 55 / Subchapter 2 / Section 15-55-214
[Repealed]
Status: repealed

Repealed by Act 2015, No. 1149,§ 12, eff. 7/22/2015. Added by Act 2013, No. 708,§ 2, eff. 7/1/2013.

Repealed by Act 2015, No. 1149,§ 12, eff. 7/22/2015.

Added by Act 2013, No. 708,§ 2, eff. 7/1/2013.
Ark. Code Ann. § 15-4-3015 — AR Code / Title 15 / Chapter 4 / Subchapter 30 / Section 15-4-3015
Annual determination of moneys required for bond repayment
Status: in_force

(a) (1) On or before commencement of each fiscal year, the Chief Fiscal Officer of the State shall determine the estimated amount required for payment of all or a part of the debt service on the bonds issued during the fiscal year and deduct therefrom the estimated moneys to be available to the Arkansas Development Finance Authority from other sources and the amount available in the Economic Development Superprojects Project Fund to determine what amount of general revenues, if any, will be required. (2) The Chief Fiscal Officer of the State shall certify the estimated amount to the Treasurer of State. (3) The Treasurer of State shall then make monthly transfers from the Economic Development Superprojects Project Fund and, if necessary, from the State Apportionment Fund to the bond fund of the amount of general revenues as shall be required to pay the maturing debt service on the bonds. (b) (1) The obligation to make monthly transfers of general revenues from the State Apportionment Fund to the bond fund shall constitute a first charge against the general revenues prior to all other uses to which the general revenues are devoted, either under present law or under any laws that may be enacted in the future. (2) To the extent other general obligation bonds of the state may have been issued or may subsequently be issued, they shall rank on a parity of security with respect to payment from general revenues. (c) (1) Moneys credited to the Economic Development Superprojects Project Fund shall be used for the purposes identified in § 15-4-3012(b) , and for those purposes the Treasurer of State is designated as the disbursing officer to administer those funds in accordance with this subchapter. (2) If no bonds are issued, upon the request of the Arkansas Economic Development Commission and with the approval of the Governor, moneys in the Economic Development Superprojects Project Fund may be used on a pay-as-you-go basis as commission grants to local entities for infrastructure project costs. (d) Moneys in the bond fund over and above the amount necessary to ensure the prompt payment of debt service on the bonds and the establishment and maintenance of a reserve fund, if any, may be used for the redemption of bonds prior to maturity in the manner and in accordance with the provisions pertaining to redemption prior to maturity as set forth in the resolution or trust indenture authorizing or securing the bonds. Acts 2003, No. 1751, § 15.

(a) (1) On or before commencement of each fiscal year, the Chief Fiscal Officer of the State shall determine the estimated amount required for payment of all or a part of the debt service on the bonds issued during the fiscal year and deduct therefrom the estimated moneys to be available to the Arkansas Development Finance Authority from other sources and the amount available in the Economic Development Superprojects Project Fund to determine what amount of general revenues, if any, will be required. (2) The Chief Fiscal Officer of the State shall certify the estimated amount to the Treasurer of State. (3) The Treasurer of State shall then make monthly transfers from the Economic Development Superprojects Project Fund and, if necessary, from the State Apportionment Fund to the bond fund of the amount of general revenues as shall be required to pay the maturing debt service on the bonds.

(1) On or before commencement of each fiscal year, the Chief Fiscal Officer of the State shall determine the estimated amount required for payment of all or a part of the debt service on the bonds issued during the fiscal year and deduct therefrom the estimated moneys to be available to the Arkansas Development Finance Authority from other sources and the amount available in the Economic Development Superprojects Project Fund to determine what amount of general revenues, if any, will be required.

(2) The Chief Fiscal Officer of the State shall certify the estimated amount to the Treasurer of State.

(3) The Treasurer of State shall then make monthly transfers from the Economic Development Superprojects Project Fund and, if necessary, from the State Apportionment Fund to the bond fund of the amount of general revenues as shall be required to pay the maturing debt service on the bonds.

(b) (1) The obligation to make monthly transfers of general revenues from the State Apportionment Fund to the bond fund shall constitute a first charge against the general revenues prior to all other uses to which the general revenues are devoted, either under present law or under any laws that may be enacted in the future. (2) To the extent other general obligation bonds of the state may have been issued or may subsequently be issued, they shall rank on a parity of security with respect to payment from general revenues.

(1) The obligation to make monthly transfers of general revenues from the State Apportionment Fund to the bond fund shall constitute a first charge against the general revenues prior to all other uses to which the general revenues are devoted, either under present law or under any laws that may be enacted in the future.

(2) To the extent other general obligation bonds of the state may have been issued or may subsequently be issued, they shall rank on a parity of security with respect to payment from general revenues.

(c) (1) Moneys credited to the Economic Development Superprojects Project Fund shall be used for the purposes identified in § 15-4-3012(b) , and for those purposes the Treasurer of State is designated as the disbursing officer to administer those funds in accordance with this subchapter. (2) If no bonds are issued, upon the request of the Arkansas Economic Development Commission and with the approval of the Governor, moneys in the Economic Development Superprojects Project Fund may be used on a pay-as-you-go basis as commission grants to local entities for infrastructure project costs.

(1) Moneys credited to the Economic Development Superprojects Project Fund shall be used for the purposes identified in § 15-4-3012(b) , and for those purposes the Treasurer of State is designated as the disbursing officer to administer those funds in accordance with this subchapter.

(2) If no bonds are issued, upon the request of the Arkansas Economic Development Commission and with the approval of the Governor, moneys in the Economic Development Superprojects Project Fund may be used on a pay-as-you-go basis as commission grants to local entities for infrastructure project costs.

(d) Moneys in the bond fund over and above the amount necessary to ensure the prompt payment of debt service on the bonds and the establishment and maintenance of a reserve fund, if any, may be used for the redemption of bonds prior to maturity in the manner and in accordance with the provisions pertaining to redemption prior to maturity as set forth in the resolution or trust indenture authorizing or securing the bonds.

Acts 2003, No. 1751, § 15.
Ark. Code Ann. § 15-4-3906 — AR Code / Title 15 / Chapter 4 / Subchapter 39 / Section 15-4-3906
Powers, functions, and duties
Status: in_force

The Director of the Arkansas Economic Development Commission, the Military Affairs Director, and the Military Affairs Division, with the advice and assistance of the Arkansas Military Affairs Council and in coordination with the Secretary of the Department of the Military, have the following powers, functions, and duties: (1) To collect and distribute comprehensive information relating to the mission capability and economic impact of a military installation to: (A) A federal or state agency; (B) A city; (C) A county; (D) A military community council; (E) An economic development organization; (F) An individual; or (G) A corporation; (2) To advise and assist, in coordination with the secretary, a local government, a military community council, or an economic development organization in: (A) Advocating for the needs of: (i) A military installation; (ii) Military personnel; and (iii) Military families; and (B) Providing timely and effective responses to an inquiry from a federal agency concerning a military installation, in coordination with the secretary when an Arkansas National Guard military installation is impacted, and its host community; (3) To safeguard state and local economic development interests relating to: (A) A military installation; (B) Military personnel; and (C) Military families; (4) To advise the Governor: (A) Of the steps to take to: (i) Help safeguard and strengthen the mission capability of a military installation; and (ii) Position this state as a priority state in the national defense plan; and (B) On the problems and needs of military families in the State of Arkansas and to develop appropriate policies at a state level to mitigate those needs; and (5) To develop programs and resources to assist military personnel and their families upon exiting military service so that they may continue to work and live in this state. Added by Act 2021, No. 522,§ 2, eff. 7/1/2021.

The Director of the Arkansas Economic Development Commission, the Military Affairs Director, and the Military Affairs Division, with the advice and assistance of the Arkansas Military Affairs Council and in coordination with the Secretary of the Department of the Military, have the following powers, functions, and duties:

(1) To collect and distribute comprehensive information relating to the mission capability and economic impact of a military installation to: (A) A federal or state agency; (B) A city; (C) A county; (D) A military community council; (E) An economic development organization; (F) An individual; or (G) A corporation;

(A) A federal or state agency;

(B) A city;

(C) A county;

(D) A military community council;

(E) An economic development organization;

(F) An individual; or

(G) A corporation;

(2) To advise and assist, in coordination with the secretary, a local government, a military community council, or an economic development organization in: (A) Advocating for the needs of: (i) A military installation; (ii) Military personnel; and (iii) Military families; and (B) Providing timely and effective responses to an inquiry from a federal agency concerning a military installation, in coordination with the secretary when an Arkansas National Guard military installation is impacted, and its host community;

(A) Advocating for the needs of: (i) A military installation; (ii) Military personnel; and (iii) Military families; and

(i) A military installation;

(ii) Military personnel; and

(iii) Military families; and

(B) Providing timely and effective responses to an inquiry from a federal agency concerning a military installation, in coordination with the secretary when an Arkansas National Guard military installation is impacted, and its host community;

(3) To safeguard state and local economic development interests relating to: (A) A military installation; (B) Military personnel; and (C) Military families;

(A) A military installation;

(B) Military personnel; and

(C) Military families;

(4) To advise the Governor: (A) Of the steps to take to: (i) Help safeguard and strengthen the mission capability of a military installation; and (ii) Position this state as a priority state in the national defense plan; and (B) On the problems and needs of military families in the State of Arkansas and to develop appropriate policies at a state level to mitigate those needs; and

(A) Of the steps to take to: (i) Help safeguard and strengthen the mission capability of a military installation; and (ii) Position this state as a priority state in the national defense plan; and

(i) Help safeguard and strengthen the mission capability of a military installation; and

(ii) Position this state as a priority state in the national defense plan; and

(B) On the problems and needs of military families in the State of Arkansas and to develop appropriate policies at a state level to mitigate those needs; and

(5) To develop programs and resources to assist military personnel and their families upon exiting military service so that they may continue to work and live in this state.

Added by Act 2021, No. 522,§ 2, eff. 7/1/2021.
Ark. Code Ann. § 15-4-3602 — AR Code / Title 15 / Chapter 4 / Subchapter 36 / Section 15-4-3602
Definitions
Status: in_force

As used in this subchapter: (1) "Applicable percentage" means: (A) Zero percent (0%) for the first two (2) credit allowance dates; (B) Twelve percent (12%) for the third, fourth, and fifth credit allowance dates; and (C) Eleven percent (11%) for the sixth and seventh credit allowance dates; (2) "Credit allowance date" means with respect to a qualified equity investment: (A) The date on which the qualified equity investment is initially made; and (B) Each of the subsequent six (6) anniversary dates of the date on which the qualified equity investment was initially made; (3) "Letter ruling" means a written interpretation of law to a specific set of facts provided by an applicant requesting the written interpretation from the Arkansas Economic Development Commission; (4) "Long-term debt security" means a debt instrument issued by a qualified community development entity, at par value or a premium, with an original maturity date of at least seven (7) years from the date of its issuance without acceleration of repayment, amortization, or prepayment features before its original maturity date; (5) "Purchase price" means the amount paid to the issuer of a qualified equity investment for a qualified equity investment; (6) (A) "Qualified active low-income community business" means the same as defined in 26 U.S.C. § 45D and 26 C.F.R. § 1.45D-1 , as they existed on January 1, 2013, if: (i) At the time of the qualified community development entity's investment in or loan to the corporation, limited liability company, association, partnership, or other business entity, the corporation, limited liability company, association, partnership, or other business entity meets the United States Small Business Administration size eligibility standards established in 13 C.F.R. § 121.101-201 , as it existed on January 1, 2013; and (ii) (a) The corporation, limited liability company, association, partnership, or other business entity agrees to retain or create jobs that pay an average wage of at least one hundred fifteen percent (115%) of the federal poverty income guidelines for a family of four (4) for the census tract. (b) The commission may waive the requirement stated in subdivision (6)(A)(ii)( a ) of this section if the commission determines that an investment in the proposed active qualified low-income community business will have a positive impact on the community. (B) A corporation, limited liability company, association, partnership, or other business entity will be considered a qualified low-income community business for the duration of the qualified community development entity's investment in or loan to the corporation, limited liability company, association, partnership, or other business entity if the relevant qualified community development entity reasonably expects, at the time it makes an investment or loan, that the corporation, limited liability company, association, partnership, or other business entity will continue to satisfy the requirements for being a qualified active low-income community business other than the requirements stated in subdivision (6)(A)(i) of this section throughout the entire period of the investment or loan. (C) "Qualified active low-income community business" does not include the following: (i) (a) A corporation, limited liability company, association, partnership, or other business entity that is the beneficiary of an incentive under § 15-4-2705 , § 15-4-2706(b) , or § 15-4-2706(c)(2) . (b) However, the commission may waive the requirement stated in subdivision (6)(C)(i)( a ) of this section if the commission determines that an investment in the proposed active qualified low-income community business will have a positive impact on the community; (ii) (a) Any industry excluded under a rule of the commission. (b) However, the commission may waive the requirement stated in subdivision (6)(C)(ii)( a ) of this section if the commission determines that an investment in the proposed active qualified low-income community business will have a positive impact on the community; or (iii) (a) A corporation, limited liability company, association, partnership, or other business entity that derives or projects to derive at least fifteen percent (15%) of its annual revenue from the rental or sale of real estate. (b) However, the restriction in subdivision (6)(C)(iii)( a ) of this section does not apply to a corporation, limited liability company, association, partnership, or other business entity that is controlled by or under common control with another corporation, limited liability company, association, partnership, or other business entity that: (1) Does not derive or project to derive at least fifteen percent (15%) of its annual revenue from the rental or sale of real estate; and (2) Is the primary tenant of the real estate leased from the corporation, limited liability company, association, partnership, or other business entity; (7) (A) "Qualified community development entity" means the same as defined in 26 U.S.C. § 45D , as it existed on January 1, 2013, if the corporation, limited liability company, association, partnership, or other business entity has entered into, for the current year or any prior year, an allocation agreement with the Community Development Financial Institutions Fund of the United States Department of the Treasury with respect to credits authorized under 26 U.S.C. § 45D that includes Arkansas within the service area stated in the allocation agreement. (B) "Qualified community development entity" includes a qualified community development entity that is controlled by or under common control with a qualified community development entity described in this subdivision (7); (8) (A) "Qualified equity investment" means an equity investment in or a long-term debt security issued by a qualified community development entity that: (i) Is acquired after April 22, 2013, at its original issue solely in exchange for cash; (ii) Has at least eighty-five percent (85%) of its cash purchase price used by the issuer to make qualified low-income community investments in qualified active low-income community businesses located in Arkansas by the first anniversary of the initial credit allowance date; and (iii) Is designated by the issuer as a qualified equity investment under this subdivision (8) and is certified by the commission as not exceeding the limitation stated in § 15-4-3605(d) . (B) "Qualified equity investment" includes an investment that does not meet the requirements of subdivision (8)(A)(i) of this section if the investment was a qualified equity investment in the hands of a previous holder; (9) "Qualified low-income community investment" means a capital or equity investment in or loan to a qualified active low-income community business; and (10) "State premium tax liability" means: (A) Tax liability incurred by a corporation, limited liability company, association, partnership, or other business entity under §§ 23-63-102 and 26-57-601 - 26-57-605 , excluding any liability for taxes on a health insurance premium; or (B) If the tax liability under subdivision (10)(A) of this section is eliminated or reduced, any tax liability imposed on an insurance company or other person that had premium tax liability under the laws of the state. Added by Act 2013, No. 1474,§ 1, eff. 4/22/2013.

As used in this subchapter:

(1) "Applicable percentage" means: (A) Zero percent (0%) for the first two (2) credit allowance dates; (B) Twelve percent (12%) for the third, fourth, and fifth credit allowance dates; and (C) Eleven percent (11%) for the sixth and seventh credit allowance dates;

(A) Zero percent (0%) for the first two (2) credit allowance dates;

(B) Twelve percent (12%) for the third, fourth, and fifth credit allowance dates; and

(C) Eleven percent (11%) for the sixth and seventh credit allowance dates;

(2) "Credit allowance date" means with respect to a qualified equity investment: (A) The date on which the qualified equity investment is initially made; and (B) Each of the subsequent six (6) anniversary dates of the date on which the qualified equity investment was initially made;

(A) The date on which the qualified equity investment is initially made; and

(B) Each of the subsequent six (6) anniversary dates of the date on which the qualified equity investment was initially made;

(3) "Letter ruling" means a written interpretation of law to a specific set of facts provided by an applicant requesting the written interpretation from the Arkansas Economic Development Commission;

(4) "Long-term debt security" means a debt instrument issued by a qualified community development entity, at par value or a premium, with an original maturity date of at least seven (7) years from the date of its issuance without acceleration of repayment, amortization, or prepayment features before its original maturity date;

(5) "Purchase price" means the amount paid to the issuer of a qualified equity investment for a qualified equity investment;

(6) (A) "Qualified active low-income community business" means the same as defined in 26 U.S.C. § 45D and 26 C.F.R. § 1.45D-1 , as they existed on January 1, 2013, if: (i) At the time of the qualified community development entity's investment in or loan to the corporation, limited liability company, association, partnership, or other business entity, the corporation, limited liability company, association, partnership, or other business entity meets the United States Small Business Administration size eligibility standards established in 13 C.F.R. § 121.101-201 , as it existed on January 1, 2013; and (ii) (a) The corporation, limited liability company, association, partnership, or other business entity agrees to retain or create jobs that pay an average wage of at least one hundred fifteen percent (115%) of the federal poverty income guidelines for a family of four (4) for the census tract. (b) The commission may waive the requirement stated in subdivision (6)(A)(ii)( a ) of this section if the commission determines that an investment in the proposed active qualified low-income community business will have a positive impact on the community. (B) A corporation, limited liability company, association, partnership, or other business entity will be considered a qualified low-income community business for the duration of the qualified community development entity's investment in or loan to the corporation, limited liability company, association, partnership, or other business entity if the relevant qualified community development entity reasonably expects, at the time it makes an investment or loan, that the corporation, limited liability company, association, partnership, or other business entity will continue to satisfy the requirements for being a qualified active low-income community business other than the requirements stated in subdivision (6)(A)(i) of this section throughout the entire period of the investment or loan. (C) "Qualified active low-income community business" does not include the following: (i) (a) A corporation, limited liability company, association, partnership, or other business entity that is the beneficiary of an incentive under § 15-4-2705 , § 15-4-2706(b) , or § 15-4-2706(c)(2) . (b) However, the commission may waive the requirement stated in subdivision (6)(C)(i)( a ) of this section if the commission determines that an investment in the proposed active qualified low-income community business will have a positive impact on the community; (ii) (a) Any industry excluded under a rule of the commission. (b) However, the commission may waive the requirement stated in subdivision (6)(C)(ii)( a ) of this section if the commission determines that an investment in the proposed active qualified low-income community business will have a positive impact on the community; or (iii) (a) A corporation, limited liability company, association, partnership, or other business entity that derives or projects to derive at least fifteen percent (15%) of its annual revenue from the rental or sale of real estate. (b) However, the restriction in subdivision (6)(C)(iii)( a ) of this section does not apply to a corporation, limited liability company, association, partnership, or other business entity that is controlled by or under common control with another corporation, limited liability company, association, partnership, or other business entity that: (1) Does not derive or project to derive at least fifteen percent (15%) of its annual revenue from the rental or sale of real estate; and (2) Is the primary tenant of the real estate leased from the corporation, limited liability company, association, partnership, or other business entity;

(A) "Qualified active low-income community business" means the same as defined in 26 U.S.C. § 45D and 26 C.F.R. § 1.45D-1 , as they existed on January 1, 2013, if: (i) At the time of the qualified community development entity's investment in or loan to the corporation, limited liability company, association, partnership, or other business entity, the corporation, limited liability company, association, partnership, or other business entity meets the United States Small Business Administration size eligibility standards established in 13 C.F.R. § 121.101-201 , as it existed on January 1, 2013; and (ii) (a) The corporation, limited liability company, association, partnership, or other business entity agrees to retain or create jobs that pay an average wage of at least one hundred fifteen percent (115%) of the federal poverty income guidelines for a family of four (4) for the census tract. (b) The commission may waive the requirement stated in subdivision (6)(A)(ii)( a ) of this section if the commission determines that an investment in the proposed active qualified low-income community business will have a positive impact on the community.

(i) At the time of the qualified community development entity's investment in or loan to the corporation, limited liability company, association, partnership, or other business entity, the corporation, limited liability company, association, partnership, or other business entity meets the United States Small Business Administration size eligibility standards established in 13 C.F.R. § 121.101-201 , as it existed on January 1, 2013; and

(ii) (a) The corporation, limited liability company, association, partnership, or other business entity agrees to retain or create jobs that pay an average wage of at least one hundred fifteen percent (115%) of the federal poverty income guidelines for a family of four (4) for the census tract. (b) The commission may waive the requirement stated in subdivision (6)(A)(ii)( a ) of this section if the commission determines that an investment in the proposed active qualified low-income community business will have a positive impact on the community.

(a) The corporation, limited liability company, association, partnership, or other business entity agrees to retain or create jobs that pay an average wage of at least one hundred fifteen percent (115%) of the federal poverty income guidelines for a family of four (4) for the census tract.

(b) The commission may waive the requirement stated in subdivision (6)(A)(ii)( a ) of this section if the commission determines that an investment in the proposed active qualified low-income community business will have a positive impact on the community.

(B) A corporation, limited liability company, association, partnership, or other business entity will be considered a qualified low-income community business for the duration of the qualified community development entity's investment in or loan to the corporation, limited liability company, association, partnership, or other business entity if the relevant qualified community development entity reasonably expects, at the time it makes an investment or loan, that the corporation, limited liability company, association, partnership, or other business entity will continue to satisfy the requirements for being a qualified active low-income community business other than the requirements stated in subdivision (6)(A)(i) of this section throughout the entire period of the investment or loan.

(C) "Qualified active low-income community business" does not include the following: (i) (a) A corporation, limited liability company, association, partnership, or other business entity that is the beneficiary of an incentive under § 15-4-2705 , § 15-4-2706(b) , or § 15-4-2706(c)(2) . (b) However, the commission may waive the requirement stated in subdivision (6)(C)(i)( a ) of this section if the commission determines that an investment in the proposed active qualified low-income community business will have a positive impact on the community; (ii) (a) Any industry excluded under a rule of the commission. (b) However, the commission may waive the requirement stated in subdivision (6)(C)(ii)( a ) of this section if the commission determines that an investment in the proposed active qualified low-income community business will have a positive impact on the community; or (iii) (a) A corporation, limited liability company, association, partnership, or other business entity that derives or projects to derive at least fifteen percent (15%) of its annual revenue from the rental or sale of real estate. (b) However, the restriction in subdivision (6)(C)(iii)( a ) of this section does not apply to a corporation, limited liability company, association, partnership, or other business entity that is controlled by or under common control with another corporation, limited liability company, association, partnership, or other business entity that: (1) Does not derive or project to derive at least fifteen percent (15%) of its annual revenue from the rental or sale of real estate; and (2) Is the primary tenant of the real estate leased from the corporation, limited liability company, association, partnership, or other business entity;

(i) (a) A corporation, limited liability company, association, partnership, or other business entity that is the beneficiary of an incentive under § 15-4-2705 , § 15-4-2706(b) , or § 15-4-2706(c)(2) . (b) However, the commission may waive the requirement stated in subdivision (6)(C)(i)( a ) of this section if the commission determines that an investment in the proposed active qualified low-income community business will have a positive impact on the community;

(a) A corporation, limited liability company, association, partnership, or other business entity that is the beneficiary of an incentive under § 15-4-2705 , § 15-4-2706(b) , or § 15-4-2706(c)(2) .

(b) However, the commission may waive the requirement stated in subdivision (6)(C)(i)( a ) of this section if the commission determines that an investment in the proposed active qualified low-income community business will have a positive impact on the community;

(ii) (a) Any industry excluded under a rule of the commission. (b) However, the commission may waive the requirement stated in subdivision (6)(C)(ii)( a ) of this section if the commission determines that an investment in the proposed active qualified low-income community business will have a positive impact on the community; or

(a) Any industry excluded under a rule of the commission.

(b) However, the commission may waive the requirement stated in subdivision (6)(C)(ii)( a ) of this section if the commission determines that an investment in the proposed active qualified low-income community business will have a positive impact on the community; or

(iii) (a) A corporation, limited liability company, association, partnership, or other business entity that derives or projects to derive at least fifteen percent (15%) of its annual revenue from the rental or sale of real estate. (b) However, the restriction in subdivision (6)(C)(iii)( a ) of this section does not apply to a corporation, limited liability company, association, partnership, or other business entity that is controlled by or under common control with another corporation, limited liability company, association, partnership, or other business entity that: (1) Does not derive or project to derive at least fifteen percent (15%) of its annual revenue from the rental or sale of real estate; and (2) Is the primary tenant of the real estate leased from the corporation, limited liability company, association, partnership, or other business entity;

(a) A corporation, limited liability company, association, partnership, or other business entity that derives or projects to derive at least fifteen percent (15%) of its annual revenue from the rental or sale of real estate.

(b) However, the restriction in subdivision (6)(C)(iii)( a ) of this section does not apply to a corporation, limited liability company, association, partnership, or other business entity that is controlled by or under common control with another corporation, limited liability company, association, partnership, or other business entity that: (1) Does not derive or project to derive at least fifteen percent (15%) of its annual revenue from the rental or sale of real estate; and (2) Is the primary tenant of the real estate leased from the corporation, limited liability company, association, partnership, or other business entity;

(1) Does not derive or project to derive at least fifteen percent (15%) of its annual revenue from the rental or sale of real estate; and

(2) Is the primary tenant of the real estate leased from the corporation, limited liability company, association, partnership, or other business entity;

(7) (A) "Qualified community development entity" means the same as defined in 26 U.S.C. § 45D , as it existed on January 1, 2013, if the corporation, limited liability company, association, partnership, or other business entity has entered into, for the current year or any prior year, an allocation agreement with the Community Development Financial Institutions Fund of the United States Department of the Treasury with respect to credits authorized under 26 U.S.C. § 45D that includes Arkansas within the service area stated in the allocation agreement. (B) "Qualified community development entity" includes a qualified community development entity that is controlled by or under common control with a qualified community development entity described in this subdivision (7);

(A) "Qualified community development entity" means the same as defined in 26 U.S.C. § 45D , as it existed on January 1, 2013, if the corporation, limited liability company, association, partnership, or other business entity has entered into, for the current year or any prior year, an allocation agreement with the Community Development Financial Institutions Fund of the United States Department of the Treasury with respect to credits authorized under 26 U.S.C. § 45D that includes Arkansas within the service area stated in the allocation agreement.

(B) "Qualified community development entity" includes a qualified community development entity that is controlled by or under common control with a qualified community development entity described in this subdivision (7);

(8) (A) "Qualified equity investment" means an equity investment in or a long-term debt security issued by a qualified community development entity that: (i) Is acquired after April 22, 2013, at its original issue solely in exchange for cash; (ii) Has at least eighty-five percent (85%) of its cash purchase price used by the issuer to make qualified low-income community investments in qualified active low-income community businesses located in Arkansas by the first anniversary of the initial credit allowance date; and (iii) Is designated by the issuer as a qualified equity investment under this subdivision (8) and is certified by the commission as not exceeding the limitation stated in § 15-4-3605(d) . (B) "Qualified equity investment" includes an investment that does not meet the requirements of subdivision (8)(A)(i) of this section if the investment was a qualified equity investment in the hands of a previous holder;

(A) "Qualified equity investment" means an equity investment in or a long-term debt security issued by a qualified community development entity that: (i) Is acquired after April 22, 2013, at its original issue solely in exchange for cash; (ii) Has at least eighty-five percent (85%) of its cash purchase price used by the issuer to make qualified low-income community investments in qualified active low-income community businesses located in Arkansas by the first anniversary of the initial credit allowance date; and (iii) Is designated by the issuer as a qualified equity investment under this subdivision (8) and is certified by the commission as not exceeding the limitation stated in § 15-4-3605(d) .

(i) Is acquired after April 22, 2013, at its original issue solely in exchange for cash;

(ii) Has at least eighty-five percent (85%) of its cash purchase price used by the issuer to make qualified low-income community investments in qualified active low-income community businesses located in Arkansas by the first anniversary of the initial credit allowance date; and

(iii) Is designated by the issuer as a qualified equity investment under this subdivision (8) and is certified by the commission as not exceeding the limitation stated in § 15-4-3605(d) .

(B) "Qualified equity investment" includes an investment that does not meet the requirements of subdivision (8)(A)(i) of this section if the investment was a qualified equity investment in the hands of a previous holder;

(9) "Qualified low-income community investment" means a capital or equity investment in or loan to a qualified active low-income community business; and

(10) "State premium tax liability" means: (A) Tax liability incurred by a corporation, limited liability company, association, partnership, or other business entity under §§ 23-63-102 and 26-57-601 - 26-57-605 , excluding any liability for taxes on a health insurance premium; or (B) If the tax liability under subdivision (10)(A) of this section is eliminated or reduced, any tax liability imposed on an insurance company or other person that had premium tax liability under the laws of the state.

(A) Tax liability incurred by a corporation, limited liability company, association, partnership, or other business entity under §§ 23-63-102 and 26-57-601 - 26-57-605 , excluding any liability for taxes on a health insurance premium; or

(B) If the tax liability under subdivision (10)(A) of this section is eliminated or reduced, any tax liability imposed on an insurance company or other person that had premium tax liability under the laws of the state.

Added by Act 2013, No. 1474,§ 1, eff. 4/22/2013.
Ark. Code Ann. § 15-32-305 — AR Code / Title 15 / Chapter 32 / Subchapter 3 / Section 15-32-305
Return of officer when no one in possession - Warning order - Appeals
Status: in_force

(a) If a person is not found in possession of the logs, timber, lumber, staves, shingles, shingle bolts, stocks, headings, wood, bark, stone, mineral, or other material described in the complaint required under § 15-32-303 and a person does not claim the logs, timber, lumber, staves, shingles, shingle bolts, stocks, headings, wood, bark, stone, mineral, or other material described in the complaint required under § 15-32-303 , or if the officer whose duty it is to serve the summons fails to find the parties named in the summons, then, upon the return of the officer or upon the oath of the county timber inspector or other person acting under his or her authority, the clerk of the court shall make out a warning order and publish the warning order as is now provided by law in proceedings by attachment. (b) Appeals may be prosecuted in any such cause the same as in other civil actions. (c) In case the State of Arkansas appeals, no bond shall be required. Amended by Act 2017, No. 374,§ 39, eff. 8/1/2017. Acts 1883, No. 83, § 7, p. 140; 1901, No. 130, § 16, p. 202; C. & M. Dig., § 7008; Pope's Dig., § 8988; A.S.A. 1947, § 54-207.

(a) If a person is not found in possession of the logs, timber, lumber, staves, shingles, shingle bolts, stocks, headings, wood, bark, stone, mineral, or other material described in the complaint required under § 15-32-303 and a person does not claim the logs, timber, lumber, staves, shingles, shingle bolts, stocks, headings, wood, bark, stone, mineral, or other material described in the complaint required under § 15-32-303 , or if the officer whose duty it is to serve the summons fails to find the parties named in the summons, then, upon the return of the officer or upon the oath of the county timber inspector or other person acting under his or her authority, the clerk of the court shall make out a warning order and publish the warning order as is now provided by law in proceedings by attachment.

(b) Appeals may be prosecuted in any such cause the same as in other civil actions.

(c) In case the State of Arkansas appeals, no bond shall be required.

Amended by Act 2017, No. 374,§ 39, eff. 8/1/2017.

Acts 1883, No. 83, § 7, p. 140; 1901, No. 130, § 16, p. 202; C. & M. Dig., § 7008; Pope's Dig., § 8988; A.S.A. 1947, § 54-207.
Ark. Code Ann. § 15-5-1906 — AR Code / Title 15 / Chapter 5 / Subchapter 19 / Section 15-5-1906
Trust indenture funds and accounts
Status: in_force

(a) All proceeds derived from a particular obligation under this subchapter shall be deposited into funds or accounts to be created pursuant to a trust indenture with a trustee as shall be determined by the Arkansas Development Finance Authority. (b) Funds credited to an account or fund created by a trust indenture may be used for any or all of the following purposes: (1) The payment of the necessary expenses, including without limitation the costs of issuing the authority's obligations incurred by the authority in carrying out its responsibilities under this subchapter; (2) The establishment of a debt service reserve account to secure the payment of obligations; (3) The making of guaranteed educational loans to qualified borrowers; (4) The purchase or acquisition, either directly or acting through a bank with trust powers for its account, of guaranteed educational loan notes executed after March 30, 1977, by qualified borrowers or of education loan notes; (5) The acquisition of an investment contract or contracts or any other investments permitted under an indenture of the authority securing its obligations. However, the income from the contract, contracts, or investments, after payment of the obligations and all expenses associated therewith, shall be used by the authority to assist in carrying out its purposes under this subchapter; and (6) The making of education loans. Added by Act 2017, No. 824,§ 15, eff. 7/1/2017.

(a) All proceeds derived from a particular obligation under this subchapter shall be deposited into funds or accounts to be created pursuant to a trust indenture with a trustee as shall be determined by the Arkansas Development Finance Authority.

(b) Funds credited to an account or fund created by a trust indenture may be used for any or all of the following purposes: (1) The payment of the necessary expenses, including without limitation the costs of issuing the authority's obligations incurred by the authority in carrying out its responsibilities under this subchapter; (2) The establishment of a debt service reserve account to secure the payment of obligations; (3) The making of guaranteed educational loans to qualified borrowers; (4) The purchase or acquisition, either directly or acting through a bank with trust powers for its account, of guaranteed educational loan notes executed after March 30, 1977, by qualified borrowers or of education loan notes; (5) The acquisition of an investment contract or contracts or any other investments permitted under an indenture of the authority securing its obligations. However, the income from the contract, contracts, or investments, after payment of the obligations and all expenses associated therewith, shall be used by the authority to assist in carrying out its purposes under this subchapter; and (6) The making of education loans.

(1) The payment of the necessary expenses, including without limitation the costs of issuing the authority's obligations incurred by the authority in carrying out its responsibilities under this subchapter;

(2) The establishment of a debt service reserve account to secure the payment of obligations;

(3) The making of guaranteed educational loans to qualified borrowers;

(4) The purchase or acquisition, either directly or acting through a bank with trust powers for its account, of guaranteed educational loan notes executed after March 30, 1977, by qualified borrowers or of education loan notes;

(5) The acquisition of an investment contract or contracts or any other investments permitted under an indenture of the authority securing its obligations. However, the income from the contract, contracts, or investments, after payment of the obligations and all expenses associated therewith, shall be used by the authority to assist in carrying out its purposes under this subchapter; and

(6) The making of education loans.

Added by Act 2017, No. 824,§ 15, eff. 7/1/2017.
Ark. Code Ann. § 15-4-314 — AR Code / Title 15 / Chapter 4 / Subchapter 3 / Section 15-4-314
Minority business enterprises and women-owned business enterprises certification process
Status: in_force

(a) The Division of Minority and Women-owned Business Enterprise of the Arkansas Economic Development Commission shall promulgate rules to create a certification process for minority business enterprises and women-owned business enterprises. (b) The certification process shall include without limitation: (1) Criteria for certification that shall include without limitation: (A) A determination that the business is structured as a minority business enterprise or a women-owned business enterprise; (B) Verification of minority or woman ownership and control of the business; and (C) Annual updates indicating continuing minority or woman ownership and control; (2) A formal application process; (3) An education program to assist minority business enterprises and women-owned business enterprises in achieving certification; and (4) An outreach to ensure the broadest possible participation of minority business enterprises and women-owned business enterprises and persons proposing new minority business enterprises or women-owned business enterprises. (c) The Office of State Procurement shall cooperate with the division to the fullest extent possible in sharing information concerning certification and registration of minority business enterprises and women-owned business enterprises carrying out the purposes of this section. Amended by Act 2017, No. 1080,§ 1, eff. 8/1/2017. Acts 1991, No. 698, § 6; 2009, No. 1222, § 10.

(a) The Division of Minority and Women-owned Business Enterprise of the Arkansas Economic Development Commission shall promulgate rules to create a certification process for minority business enterprises and women-owned business enterprises.

(b) The certification process shall include without limitation: (1) Criteria for certification that shall include without limitation: (A) A determination that the business is structured as a minority business enterprise or a women-owned business enterprise; (B) Verification of minority or woman ownership and control of the business; and (C) Annual updates indicating continuing minority or woman ownership and control; (2) A formal application process; (3) An education program to assist minority business enterprises and women-owned business enterprises in achieving certification; and (4) An outreach to ensure the broadest possible participation of minority business enterprises and women-owned business enterprises and persons proposing new minority business enterprises or women-owned business enterprises.

(1) Criteria for certification that shall include without limitation: (A) A determination that the business is structured as a minority business enterprise or a women-owned business enterprise; (B) Verification of minority or woman ownership and control of the business; and (C) Annual updates indicating continuing minority or woman ownership and control;

(A) A determination that the business is structured as a minority business enterprise or a women-owned business enterprise;

(B) Verification of minority or woman ownership and control of the business; and

(C) Annual updates indicating continuing minority or woman ownership and control;

(2) A formal application process;

(3) An education program to assist minority business enterprises and women-owned business enterprises in achieving certification; and

(4) An outreach to ensure the broadest possible participation of minority business enterprises and women-owned business enterprises and persons proposing new minority business enterprises or women-owned business enterprises.

(c) The Office of State Procurement shall cooperate with the division to the fullest extent possible in sharing information concerning certification and registration of minority business enterprises and women-owned business enterprises carrying out the purposes of this section.

Amended by Act 2017, No. 1080,§ 1, eff. 8/1/2017.

Acts 1991, No. 698, § 6; 2009, No. 1222, § 10.
Ark. Code Ann. § 15-9-102 — AR Code / Title 15 / Chapter 9 / Section 15-9-102
[Repealed]
Status: repealed

Repealed by Act 2017, No. 540,§ 14, eff. 8/1/2017. Acts 1999, No. 712, § 2.

Repealed by Act 2017, No. 540,§ 14, eff. 8/1/2017.

Acts 1999, No. 712, § 2.
Ark. Code Ann. § 15-4-2005 — AR Code / Title 15 / Chapter 4 / Subchapter 20 / Section 15-4-2005
Production tax incentives
Status: in_force

(a) (1) The Director of the Arkansas Economic Development Commission may offer to a production company that has submitted an approved application for a tax incentive under § 15-4-2007 a tax incentive of twenty-five percent (25%) on all qualified production costs in connection with the production of a state-certified film project. (2) If the director approves a project for a tax incentive under this section, an additional rebate or tax credit of ten percent (10%) shall be granted for the payroll of below-the-line employees who are full-time residents of Arkansas. (b) To qualify for this tax incentive, a production company shall spend at least two hundred thousand dollars ($200,000) within a six-month period in connection with the production of one (1) project. (c) A state-certified production shall be granted an additional tax incentive of ten percent (10%) for: (1) The payroll of below-the-line employees who are: (A) Full-time residents of Arkansas; or (B) Veterans; or (2) Expenditures paid to a veteran-owned small business for qualified production costs with the state-certified production. (d) (1) A state-certified production shall be granted an additional tax incentive of five percent (5%) for either: (A) Hiring below-the-line employees whose full-time permanent address is located in a Tier 3 or Tier 4 county in the annual ranking of counties established by the Arkansas Economic Development Commission under § 15-4-2704 ; or (B) Expenditures paid to a person or business for qualified production costs with a state-certified production located in a Tier 3 or Tier 4 county in the annual ranking of counties established by the commission under § 15-4-2704 . (2) A state-certified production shall be granted an additional tax incentive of five percent (5%) for producing a multi-project production, including without limitation a television series and a multi-film project. (e) A production tax incentive shall not be processed until the production company has met in full all obligations to each Arkansas institution and vendor owed for products or services in the state. (f) The maximum total tax incentives that shall be claimed for an expenditure under this section is thirty percent (30%) of the expenditure. Amended by Act 2023, No. 517,§ 1, eff. 8/1/2023, app. for financial incentive agreements signed on or after the effective date of this act.. Amended by Act 2023, No. 204,§ 3, eff. 90 days after sine die adjournment. Amended by Act 2023, No. 204,§ 2, eff. 90 days after sine die adjournment. Amended by Act 2021, No. 797,§ 2, eff. 7/28/2021. Amended by Act 2019, No. 367,§ 2, eff. 7/24/2019. Amended by Act 2013, No. 496,§ 7, eff. 8/16/2013. Acts 1997, No. 919, § 5; 2009, No. 816, § 1.

(a) (1) The Director of the Arkansas Economic Development Commission may offer to a production company that has submitted an approved application for a tax incentive under § 15-4-2007 a tax incentive of twenty-five percent (25%) on all qualified production costs in connection with the production of a state-certified film project. (2) If the director approves a project for a tax incentive under this section, an additional rebate or tax credit of ten percent (10%) shall be granted for the payroll of below-the-line employees who are full-time residents of Arkansas.

(1) The Director of the Arkansas Economic Development Commission may offer to a production company that has submitted an approved application for a tax incentive under § 15-4-2007 a tax incentive of twenty-five percent (25%) on all qualified production costs in connection with the production of a state-certified film project.

(2) If the director approves a project for a tax incentive under this section, an additional rebate or tax credit of ten percent (10%) shall be granted for the payroll of below-the-line employees who are full-time residents of Arkansas.

(b) To qualify for this tax incentive, a production company shall spend at least two hundred thousand dollars ($200,000) within a six-month period in connection with the production of one (1) project.

(c) A state-certified production shall be granted an additional tax incentive of ten percent (10%) for: (1) The payroll of below-the-line employees who are: (A) Full-time residents of Arkansas; or (B) Veterans; or (2) Expenditures paid to a veteran-owned small business for qualified production costs with the state-certified production.

(1) The payroll of below-the-line employees who are: (A) Full-time residents of Arkansas; or (B) Veterans; or

(A) Full-time residents of Arkansas; or

(B) Veterans; or

(2) Expenditures paid to a veteran-owned small business for qualified production costs with the state-certified production.

(d) (1) A state-certified production shall be granted an additional tax incentive of five percent (5%) for either: (A) Hiring below-the-line employees whose full-time permanent address is located in a Tier 3 or Tier 4 county in the annual ranking of counties established by the Arkansas Economic Development Commission under § 15-4-2704 ; or (B) Expenditures paid to a person or business for qualified production costs with a state-certified production located in a Tier 3 or Tier 4 county in the annual ranking of counties established by the commission under § 15-4-2704 . (2) A state-certified production shall be granted an additional tax incentive of five percent (5%) for producing a multi-project production, including without limitation a television series and a multi-film project.

(1) A state-certified production shall be granted an additional tax incentive of five percent (5%) for either: (A) Hiring below-the-line employees whose full-time permanent address is located in a Tier 3 or Tier 4 county in the annual ranking of counties established by the Arkansas Economic Development Commission under § 15-4-2704 ; or (B) Expenditures paid to a person or business for qualified production costs with a state-certified production located in a Tier 3 or Tier 4 county in the annual ranking of counties established by the commission under § 15-4-2704 .

(A) Hiring below-the-line employees whose full-time permanent address is located in a Tier 3 or Tier 4 county in the annual ranking of counties established by the Arkansas Economic Development Commission under § 15-4-2704 ; or

(B) Expenditures paid to a person or business for qualified production costs with a state-certified production located in a Tier 3 or Tier 4 county in the annual ranking of counties established by the commission under § 15-4-2704 .

(2) A state-certified production shall be granted an additional tax incentive of five percent (5%) for producing a multi-project production, including without limitation a television series and a multi-film project.

(e) A production tax incentive shall not be processed until the production company has met in full all obligations to each Arkansas institution and vendor owed for products or services in the state.

(f) The maximum total tax incentives that shall be claimed for an expenditure under this section is thirty percent (30%) of the expenditure.

Amended by Act 2023, No. 517,§ 1, eff. 8/1/2023, app. for financial incentive agreements signed on or after the effective date of this act..

Amended by Act 2023, No. 204,§ 3, eff. 90 days after sine die adjournment.

Amended by Act 2023, No. 204,§ 2, eff. 90 days after sine die adjournment.

Amended by Act 2021, No. 797,§ 2, eff. 7/28/2021.

Amended by Act 2019, No. 367,§ 2, eff. 7/24/2019.

Amended by Act 2013, No. 496,§ 7, eff. 8/16/2013.

Acts 1997, No. 919, § 5; 2009, No. 816, § 1.
Ark. Code Ann. § 15-4-524 — AR Code / Title 15 / Chapter 4 / Subchapter 5 / Section 15-4-524
Tax exemptions
Status: in_force

Interest on bonds or other obligations issued in accordance with the provisions of this act shall be exempt from all state income taxes and the principal thereof from inheritance taxation. Acts 1955, No. 404, § 36; 1957, No. 47, § 13; A.S.A. 1947, § 9-539.

Interest on bonds or other obligations issued in accordance with the provisions of this act shall be exempt from all state income taxes and the principal thereof from inheritance taxation.

Acts 1955, No. 404, § 36; 1957, No. 47, § 13; A.S.A. 1947, § 9-539.
Ark. Code Ann. § 15-31-112 — AR Code / Title 15 / Chapter 31 / Subchapter 1 / Section 15-31-112
[Repealed]
Status: repealed

Repealed by Act 2019, No. 910,§ 95, eff. 7/1/2019. Amended by Act 2019, No. 315,§ 1152, eff. 7/24/2019. Acts 1997, No. 123, § 1.

Repealed by Act 2019, No. 910,§ 95, eff. 7/1/2019.

Amended by Act 2019, No. 315,§ 1152, eff. 7/24/2019.

Acts 1997, No. 123, § 1.
Ark. Code Ann. § 15-4-1218 — AR Code / Title 15 / Chapter 4 / Subchapter 12 / Section 15-4-1218
Member financial institutions - Loan limits
Status: in_force

(a) Any financial institution may request membership in the company by making application to the board of directors or the management committee on such form and in such manner as the board of directors or the management committee may require, and membership shall become effective upon the acceptance of the application by the board of directors or the management committee. (b) Each member of the company may make loans to the company as and when called upon by it to do so on such terms and other conditions as shall be approved from time to time by the board of directors or the management committee, subject to the following conditions: (1) All loan limits shall be established at the thousand-dollar amount nearest to the amount computed in accordance with the provisions of this section; (2) No loan to a company organized under this subchapter shall be made by members pursuant to a call made by the company if immediately thereafter the total amount of the loans will exceed ten (10) times the amount then paid in on the outstanding stock or the units of interest of the company plus ten (10) times the earned surplus of a corporation less reserves or ten (10) times the undistributed earnings of a limited liability company less reserves; (3) The total amount outstanding on loans to a company made by any member at any one (1) time, when added to the amount of the investment in the capital stock or the units of interest of the company then held by that member, shall not exceed the limitation on loans established by law, rule, or regulation applicable to the member or, in the absence of any limitation, the amount approved by the board of directors or the management committee for that member; (4) (A) Each call made by the company may be prorated among members of a company in substantially the same proportion that the adjusted loan limit of each member bears to the aggregate of the adjusted loan limits of all members. (B) The adjusted loan limit of a member shall be the amount of the member's loan limit, reduced by the balance of outstanding loans made by the member to the company and the investment in capital stock of a corporation or units of interest in a limited liability company held by the member at the time of the call, and further reduced, in the case of a member who has assumed the obligation of a financial institution withdrawn from membership pursuant to § 15-4-1219(a)(2) , by the balance of outstanding loans made to the company by the financial institution; and (5) All loans to a company by members shall be evidenced by bonds, debentures, notes, or other evidence of indebtedness of the company which shall be freely transferable at all times and which shall bear interest at a rate which may be adjusted from time to time in a manner determined by the board of directors or the management committee. The rate shall not be less than one-quarter of one percent (0.25%) in excess of the prime or base rate of interest prevailing at the time of the adjustment for commercial banks in the City of Little Rock on unsecured commercial loans. Amended by Act 2019, No. 315,§ 1059, eff. 7/24/2019. Acts 1991, No. 1029, § 18; 1999, No. 37, § 17.

(a) Any financial institution may request membership in the company by making application to the board of directors or the management committee on such form and in such manner as the board of directors or the management committee may require, and membership shall become effective upon the acceptance of the application by the board of directors or the management committee.

(b) Each member of the company may make loans to the company as and when called upon by it to do so on such terms and other conditions as shall be approved from time to time by the board of directors or the management committee, subject to the following conditions: (1) All loan limits shall be established at the thousand-dollar amount nearest to the amount computed in accordance with the provisions of this section; (2) No loan to a company organized under this subchapter shall be made by members pursuant to a call made by the company if immediately thereafter the total amount of the loans will exceed ten (10) times the amount then paid in on the outstanding stock or the units of interest of the company plus ten (10) times the earned surplus of a corporation less reserves or ten (10) times the undistributed earnings of a limited liability company less reserves; (3) The total amount outstanding on loans to a company made by any member at any one (1) time, when added to the amount of the investment in the capital stock or the units of interest of the company then held by that member, shall not exceed the limitation on loans established by law, rule, or regulation applicable to the member or, in the absence of any limitation, the amount approved by the board of directors or the management committee for that member; (4) (A) Each call made by the company may be prorated among members of a company in substantially the same proportion that the adjusted loan limit of each member bears to the aggregate of the adjusted loan limits of all members. (B) The adjusted loan limit of a member shall be the amount of the member's loan limit, reduced by the balance of outstanding loans made by the member to the company and the investment in capital stock of a corporation or units of interest in a limited liability company held by the member at the time of the call, and further reduced, in the case of a member who has assumed the obligation of a financial institution withdrawn from membership pursuant to § 15-4-1219(a)(2) , by the balance of outstanding loans made to the company by the financial institution; and (5) All loans to a company by members shall be evidenced by bonds, debentures, notes, or other evidence of indebtedness of the company which shall be freely transferable at all times and which shall bear interest at a rate which may be adjusted from time to time in a manner determined by the board of directors or the management committee. The rate shall not be less than one-quarter of one percent (0.25%) in excess of the prime or base rate of interest prevailing at the time of the adjustment for commercial banks in the City of Little Rock on unsecured commercial loans.

(1) All loan limits shall be established at the thousand-dollar amount nearest to the amount computed in accordance with the provisions of this section;

(2) No loan to a company organized under this subchapter shall be made by members pursuant to a call made by the company if immediately thereafter the total amount of the loans will exceed ten (10) times the amount then paid in on the outstanding stock or the units of interest of the company plus ten (10) times the earned surplus of a corporation less reserves or ten (10) times the undistributed earnings of a limited liability company less reserves;

(3) The total amount outstanding on loans to a company made by any member at any one (1) time, when added to the amount of the investment in the capital stock or the units of interest of the company then held by that member, shall not exceed the limitation on loans established by law, rule, or regulation applicable to the member or, in the absence of any limitation, the amount approved by the board of directors or the management committee for that member;

(4) (A) Each call made by the company may be prorated among members of a company in substantially the same proportion that the adjusted loan limit of each member bears to the aggregate of the adjusted loan limits of all members. (B) The adjusted loan limit of a member shall be the amount of the member's loan limit, reduced by the balance of outstanding loans made by the member to the company and the investment in capital stock of a corporation or units of interest in a limited liability company held by the member at the time of the call, and further reduced, in the case of a member who has assumed the obligation of a financial institution withdrawn from membership pursuant to § 15-4-1219(a)(2) , by the balance of outstanding loans made to the company by the financial institution; and

(A) Each call made by the company may be prorated among members of a company in substantially the same proportion that the adjusted loan limit of each member bears to the aggregate of the adjusted loan limits of all members.

(B) The adjusted loan limit of a member shall be the amount of the member's loan limit, reduced by the balance of outstanding loans made by the member to the company and the investment in capital stock of a corporation or units of interest in a limited liability company held by the member at the time of the call, and further reduced, in the case of a member who has assumed the obligation of a financial institution withdrawn from membership pursuant to § 15-4-1219(a)(2) , by the balance of outstanding loans made to the company by the financial institution; and

(5) All loans to a company by members shall be evidenced by bonds, debentures, notes, or other evidence of indebtedness of the company which shall be freely transferable at all times and which shall bear interest at a rate which may be adjusted from time to time in a manner determined by the board of directors or the management committee. The rate shall not be less than one-quarter of one percent (0.25%) in excess of the prime or base rate of interest prevailing at the time of the adjustment for commercial banks in the City of Little Rock on unsecured commercial loans.

Amended by Act 2019, No. 315,§ 1059, eff. 7/24/2019.

Acts 1991, No. 1029, § 18; 1999, No. 37, § 17.
Ark. Code Ann. § 15-21-306 — AR Code / Title 15 / Chapter 21 / Subchapter 3 / Section 15-21-306
Technical definition of system - Marking of coordinates on ground
Status: in_force

(a) For purposes of more precisely defining the Arkansas Coordinate System 1983, the following definition by the National Geodetic Survey is adopted: (1) (A) The Arkansas Coordinate System 1983, North Zone, is a Lambert conformal projection of the North American Datum of 1983 (NAD83), having standard parallels at north latitudes of thirty-four degrees fifty-six minutes (34° 56' north) and thirty-six degrees fourteen minutes (36° 14' north), along which parallels the scale shall be exact. (B) The origin of coordinates is at the intersection of the meridian ninety-two degrees zero minutes west of Greenwich (92° 00' west) and the parallel thirty-four degrees twenty minutes north latitude (34° 20' north). This origin is given the coordinates: East equals four hundred thousand meters (400,000 m.) and north equals zero meters (0.0 m.); and (2) (A) The Arkansas Coordinate System 1983, South Zone, is a Lambert conformal projection of the North American Datum of 1983 (NAD83), having standard parallels at north latitudes of thirty-three degrees eighteen minutes (33° 18' north) and thirty-four degrees forty minutes (34° 40' north), along which parallels the scale shall be exact. (B) The origin of coordinates is at the intersection of the meridian ninety-two degrees zero minutes west of Greenwich (92° 0' west) and the parallel thirty-two degrees forty minutes north latitude (32° 40' north). This origin is given the coordinates: East equals four hundred thousand meters (400,000 m.) and north equals four hundred thousand meters (400,000 m.). (b) The position of Arkansas Coordinate System 1983 shall be marked on the ground by triangulation or traverse stations established in conformity with standards adopted by the National Geodetic Survey for first-order and second-order work, whose geodetic positions have been rigidly adjusted on the North American Datum of 1983 and whose coordinates have been computed on the system herein defined. Any such station may be used for establishing a survey connection with the Arkansas Coordinate System 1983. Acts 1991, No. 861, § 5.

(a) For purposes of more precisely defining the Arkansas Coordinate System 1983, the following definition by the National Geodetic Survey is adopted: (1) (A) The Arkansas Coordinate System 1983, North Zone, is a Lambert conformal projection of the North American Datum of 1983 (NAD83), having standard parallels at north latitudes of thirty-four degrees fifty-six minutes (34° 56' north) and thirty-six degrees fourteen minutes (36° 14' north), along which parallels the scale shall be exact. (B) The origin of coordinates is at the intersection of the meridian ninety-two degrees zero minutes west of Greenwich (92° 00' west) and the parallel thirty-four degrees twenty minutes north latitude (34° 20' north). This origin is given the coordinates: East equals four hundred thousand meters (400,000 m.) and north equals zero meters (0.0 m.); and (2) (A) The Arkansas Coordinate System 1983, South Zone, is a Lambert conformal projection of the North American Datum of 1983 (NAD83), having standard parallels at north latitudes of thirty-three degrees eighteen minutes (33° 18' north) and thirty-four degrees forty minutes (34° 40' north), along which parallels the scale shall be exact. (B) The origin of coordinates is at the intersection of the meridian ninety-two degrees zero minutes west of Greenwich (92° 0' west) and the parallel thirty-two degrees forty minutes north latitude (32° 40' north). This origin is given the coordinates: East equals four hundred thousand meters (400,000 m.) and north equals four hundred thousand meters (400,000 m.).

(1) (A) The Arkansas Coordinate System 1983, North Zone, is a Lambert conformal projection of the North American Datum of 1983 (NAD83), having standard parallels at north latitudes of thirty-four degrees fifty-six minutes (34° 56' north) and thirty-six degrees fourteen minutes (36° 14' north), along which parallels the scale shall be exact. (B) The origin of coordinates is at the intersection of the meridian ninety-two degrees zero minutes west of Greenwich (92° 00' west) and the parallel thirty-four degrees twenty minutes north latitude (34° 20' north). This origin is given the coordinates: East equals four hundred thousand meters (400,000 m.) and north equals zero meters (0.0 m.); and

(A) The Arkansas Coordinate System 1983, North Zone, is a Lambert conformal projection of the North American Datum of 1983 (NAD83), having standard parallels at north latitudes of thirty-four degrees fifty-six minutes (34° 56' north) and thirty-six degrees fourteen minutes (36° 14' north), along which parallels the scale shall be exact.

(B) The origin of coordinates is at the intersection of the meridian ninety-two degrees zero minutes west of Greenwich (92° 00' west) and the parallel thirty-four degrees twenty minutes north latitude (34° 20' north). This origin is given the coordinates: East equals four hundred thousand meters (400,000 m.) and north equals zero meters (0.0 m.); and

(2) (A) The Arkansas Coordinate System 1983, South Zone, is a Lambert conformal projection of the North American Datum of 1983 (NAD83), having standard parallels at north latitudes of thirty-three degrees eighteen minutes (33° 18' north) and thirty-four degrees forty minutes (34° 40' north), along which parallels the scale shall be exact. (B) The origin of coordinates is at the intersection of the meridian ninety-two degrees zero minutes west of Greenwich (92° 0' west) and the parallel thirty-two degrees forty minutes north latitude (32° 40' north). This origin is given the coordinates: East equals four hundred thousand meters (400,000 m.) and north equals four hundred thousand meters (400,000 m.).

(A) The Arkansas Coordinate System 1983, South Zone, is a Lambert conformal projection of the North American Datum of 1983 (NAD83), having standard parallels at north latitudes of thirty-three degrees eighteen minutes (33° 18' north) and thirty-four degrees forty minutes (34° 40' north), along which parallels the scale shall be exact.

(B) The origin of coordinates is at the intersection of the meridian ninety-two degrees zero minutes west of Greenwich (92° 0' west) and the parallel thirty-two degrees forty minutes north latitude (32° 40' north). This origin is given the coordinates: East equals four hundred thousand meters (400,000 m.) and north equals four hundred thousand meters (400,000 m.).

(b) The position of Arkansas Coordinate System 1983 shall be marked on the ground by triangulation or traverse stations established in conformity with standards adopted by the National Geodetic Survey for first-order and second-order work, whose geodetic positions have been rigidly adjusted on the North American Datum of 1983 and whose coordinates have been computed on the system herein defined. Any such station may be used for establishing a survey connection with the Arkansas Coordinate System 1983.

Acts 1991, No. 861, § 5.
Ark. Code Ann. § 15-57-401 — AR Code / Title 15 / Chapter 57 / Subchapter 4 / Section 15-57-401
Title
Status: in_force

This subchapter shall be known and may be cited as the "Arkansas Quarry Operation, Reclamation, and Safe Closure Act". Acts 1997, No. 1166, § 1.

This subchapter shall be known and may be cited as the "Arkansas Quarry Operation, Reclamation, and Safe Closure Act".

Acts 1997, No. 1166, § 1.
Ark. Code Ann. § 15-23-314 — AR Code / Title 15 / Chapter 23 / Subchapter 3 / Section 15-23-314
Protection of private lands
Status: in_force

Nothing in this subchapter shall be construed to give the public any greater right or privilege of access to private lands. Acts 1979, No. 257, § 11; A.S.A. 1947, § 9-1211.

Nothing in this subchapter shall be construed to give the public any greater right or privilege of access to private lands.

Acts 1979, No. 257, § 11; A.S.A. 1947, § 9-1211.
Ark. Code Ann. § 15-3-709 — AR Code / Title 15 / Chapter 3 / Subchapter 7 / Section 15-3-709
Rules
Status: in_force

The Division of Science and Technology of the Arkansas Economic Development Commission shall promulgate rules to carry out the purposes of this subchapter. Added by Act 2017, No. 166,§ 2, eff. 10/1/2017.

The Division of Science and Technology of the Arkansas Economic Development Commission shall promulgate rules to carry out the purposes of this subchapter.

Added by Act 2017, No. 166,§ 2, eff. 10/1/2017.
Ark. Code Ann. § 15-75-311 — AR Code / Title 15 / Chapter 75 / Subchapter 3 / Section 15-75-311
Class five permit
Status: in_force

(a) The holder of a class five permit: (1) May deliver liquefied petroleum gas to or for class one dealers but shall not retail liquefied petroleum gas or sell or install liquefied petroleum gas containers or systems; (2) Shall not use motor fuel directly from cargo trailer tanks; (3) May deliver liquefied petroleum gas to class three dealers engaged in cylinder exchange, delivery, or service if the class three permit holder has installed an approved storage container with a minimum capacity of six thousand (6,000) gallons; (4) (A) Shall be required to undergo an annual safety inspection on all transport delivery trucks. The safety inspection or documentation of the safety inspection shall be received by the office of the Director of the Liquefied Petroleum Gas Board prior to operation of the transport delivery trucks over Arkansas roads. All permit and inspection fees for Arkansas are applicable. (B) The inspection shall be performed by: (i) The Liquefied Petroleum Gas Board inspector; or (ii) An acceptable qualified agency having jurisdiction or authority over liquefied petroleum gas; (5) Must notify the board prior to the first delivery of liquefied petroleum gas to a class three permit holder to ensure that proper inspection of cylinder exchange filling facilities has been performed, and no delivery may be made until the facility has been inspected and approved by the board and the notice transmitted to the board; and (6) Must pay an annual permit fee in the sum of two hundred dollars ($200). (b) An applicant for a class five permit: (1) Must furnish evidence of the following insurance: (A) Automobile Bodily Injury Liability Insurance Each Person $500,000 Each Accident 500,000 (B) Automobile Property Damage Liability Insurance Each Accident $500,000 (2) Must provide a certified or notarized financial statement which has been compiled within the past sixty (60) days; (3) Must provide full-time employment of qualified personnel whose competency shall be proved through a current written or oral examination; and (4) Must comply with all other applicable requirements. Acts 1965, No. 31, § 24; A.S.A. 1947, § 53-723; Acts 1991, No. 300, § 7; 1995, No. 604, § 3; 1999, No. 223, § 1.

(a) The holder of a class five permit: (1) May deliver liquefied petroleum gas to or for class one dealers but shall not retail liquefied petroleum gas or sell or install liquefied petroleum gas containers or systems; (2) Shall not use motor fuel directly from cargo trailer tanks; (3) May deliver liquefied petroleum gas to class three dealers engaged in cylinder exchange, delivery, or service if the class three permit holder has installed an approved storage container with a minimum capacity of six thousand (6,000) gallons; (4) (A) Shall be required to undergo an annual safety inspection on all transport delivery trucks. The safety inspection or documentation of the safety inspection shall be received by the office of the Director of the Liquefied Petroleum Gas Board prior to operation of the transport delivery trucks over Arkansas roads. All permit and inspection fees for Arkansas are applicable. (B) The inspection shall be performed by: (i) The Liquefied Petroleum Gas Board inspector; or (ii) An acceptable qualified agency having jurisdiction or authority over liquefied petroleum gas; (5) Must notify the board prior to the first delivery of liquefied petroleum gas to a class three permit holder to ensure that proper inspection of cylinder exchange filling facilities has been performed, and no delivery may be made until the facility has been inspected and approved by the board and the notice transmitted to the board; and (6) Must pay an annual permit fee in the sum of two hundred dollars ($200).

(1) May deliver liquefied petroleum gas to or for class one dealers but shall not retail liquefied petroleum gas or sell or install liquefied petroleum gas containers or systems;

(2) Shall not use motor fuel directly from cargo trailer tanks;

(3) May deliver liquefied petroleum gas to class three dealers engaged in cylinder exchange, delivery, or service if the class three permit holder has installed an approved storage container with a minimum capacity of six thousand (6,000) gallons;

(4) (A) Shall be required to undergo an annual safety inspection on all transport delivery trucks. The safety inspection or documentation of the safety inspection shall be received by the office of the Director of the Liquefied Petroleum Gas Board prior to operation of the transport delivery trucks over Arkansas roads. All permit and inspection fees for Arkansas are applicable. (B) The inspection shall be performed by: (i) The Liquefied Petroleum Gas Board inspector; or (ii) An acceptable qualified agency having jurisdiction or authority over liquefied petroleum gas;

(A) Shall be required to undergo an annual safety inspection on all transport delivery trucks. The safety inspection or documentation of the safety inspection shall be received by the office of the Director of the Liquefied Petroleum Gas Board prior to operation of the transport delivery trucks over Arkansas roads. All permit and inspection fees for Arkansas are applicable.

(B) The inspection shall be performed by: (i) The Liquefied Petroleum Gas Board inspector; or (ii) An acceptable qualified agency having jurisdiction or authority over liquefied petroleum gas;

(i) The Liquefied Petroleum Gas Board inspector; or

(ii) An acceptable qualified agency having jurisdiction or authority over liquefied petroleum gas;

(5) Must notify the board prior to the first delivery of liquefied petroleum gas to a class three permit holder to ensure that proper inspection of cylinder exchange filling facilities has been performed, and no delivery may be made until the facility has been inspected and approved by the board and the notice transmitted to the board; and

(6) Must pay an annual permit fee in the sum of two hundred dollars ($200).

(b) An applicant for a class five permit: (1) Must furnish evidence of the following insurance: (A) Automobile Bodily Injury Liability Insurance Each Person $500,000 Each Accident 500,000 (B) Automobile Property Damage Liability Insurance Each Accident $500,000 (2) Must provide a certified or notarized financial statement which has been compiled within the past sixty (60) days; (3) Must provide full-time employment of qualified personnel whose competency shall be proved through a current written or oral examination; and (4) Must comply with all other applicable requirements.

(1) Must furnish evidence of the following insurance: (A) Automobile Bodily Injury Liability Insurance Each Person $500,000 Each Accident 500,000 (B) Automobile Property Damage Liability Insurance Each Accident $500,000

(A) Automobile Bodily Injury Liability Insurance Each Person $500,000 Each Accident 500,000 (B) Automobile Property Damage Liability Insurance Each Accident $500,000

(A) Automobile Bodily Injury Liability Insurance

Each Person

$500,000

Each Accident

500,000

(B) Automobile Property Damage Liability Insurance

Each Accident

$500,000

(2) Must provide a certified or notarized financial statement which has been compiled within the past sixty (60) days;

(3) Must provide full-time employment of qualified personnel whose competency shall be proved through a current written or oral examination; and

(4) Must comply with all other applicable requirements.

Acts 1965, No. 31, § 24; A.S.A. 1947, § 53-723; Acts 1991, No. 300, § 7; 1995, No. 604, § 3; 1999, No. 223, § 1.
Ark. Code Ann. § 15-73-205 — AR Code / Title 15 / Chapter 73 / Subchapter 2 / Section 15-73-205
Failure to pay rental installment - Endorsement of forfeiture
Status: in_force

(a) If any installment of rental due under a lease is not paid when due according to the terms of the original lease, thus causing a forfeiture and termination of the lease, the then-owner of the fee in the lands affected may endorse on the margin of the record of the original lease a statement to the effect that the rental has not been so paid and that the lease therefore is forfeited, which endorsement shall be signed by the landowner and dated and attested by the recorder, and shall be notice binding upon all subsequent purchasers or holders under the original lease, and shall be prima facie evidence of the termination and forfeiture of the lease. (b) (1) Provided, if any person shall wrongfully or falsely make the endorsement, or cause the endorsement to be made, he or she shall be liable for double damages to any person injured or damaged thereby. (2) Provided further, this section shall not relieve the owner of the lease from the duty of clearing the record as provided by § 15-73-203 . Acts 1923, No. 170, § 3; Pope's Dig., § 10507; A.S.A. 1947, § 53-314.

(a) If any installment of rental due under a lease is not paid when due according to the terms of the original lease, thus causing a forfeiture and termination of the lease, the then-owner of the fee in the lands affected may endorse on the margin of the record of the original lease a statement to the effect that the rental has not been so paid and that the lease therefore is forfeited, which endorsement shall be signed by the landowner and dated and attested by the recorder, and shall be notice binding upon all subsequent purchasers or holders under the original lease, and shall be prima facie evidence of the termination and forfeiture of the lease.

(b) (1) Provided, if any person shall wrongfully or falsely make the endorsement, or cause the endorsement to be made, he or she shall be liable for double damages to any person injured or damaged thereby. (2) Provided further, this section shall not relieve the owner of the lease from the duty of clearing the record as provided by § 15-73-203 .

(1) Provided, if any person shall wrongfully or falsely make the endorsement, or cause the endorsement to be made, he or she shall be liable for double damages to any person injured or damaged thereby.

(2) Provided further, this section shall not relieve the owner of the lease from the duty of clearing the record as provided by § 15-73-203 .

Acts 1923, No. 170, § 3; Pope's Dig., § 10507; A.S.A. 1947, § 53-314.
Ark. Code Ann. § 15-24-105 — AR Code / Title 15 / Chapter 24 / Section 15-24-105
Cooperation with United States - Applications for allotment or assistance
Status: in_force

(a) The Arkansas Natural Resources Commission is authorized and empowered on behalf of the state to: (1) Cooperate with the United States Department of Defense in every way contemplated by any of the acts of the United States Congress passed in connection with flood control on any of the streams in Arkansas; and (2) Make necessary application for allotment or assistance from the federal government, to submit all project statements, surveys, plans, specifications, and estimates and other reports or information required by the constituted federal authority, and to enter into all necessary contracts with the proper federal authorities in order to secure the full cooperation of the United States Government and the benefits of all present and future allotments in aid of flood control. (b) (1) However, the jurisdiction and authority of the commission shall not extend to the works, improvements, nor to the territory embraced within any levee district or drainage district now existing or hereafter organized. (2) All of the limitations and reservations in favor of such levee districts or drainage districts apply as set out in § 15-24-102(c) . (3) (A) Any levee district or drainage district may voluntarily contract with the United States Government or any of its agencies of whatsoever nature and may contract voluntarily with the commission created in this chapter, subject to court approval and recordation as set out in § 15-24-102 , to the extent only as the governing board of each individual levee district or drainage district may deem proper. (B) This chapter shall not require approval by the commission of any application, petition, contract, improvements, legal proceedings, or any other proceedings whatsoever as to the territory within the boundaries of any levee district or drainage district or to any official act of any levee district or drainage district. Acts 1937, No. 212, § 13; Pope's Dig., § 12188; A.S.A. 1947, § 9-805.

(a) The Arkansas Natural Resources Commission is authorized and empowered on behalf of the state to: (1) Cooperate with the United States Department of Defense in every way contemplated by any of the acts of the United States Congress passed in connection with flood control on any of the streams in Arkansas; and (2) Make necessary application for allotment or assistance from the federal government, to submit all project statements, surveys, plans, specifications, and estimates and other reports or information required by the constituted federal authority, and to enter into all necessary contracts with the proper federal authorities in order to secure the full cooperation of the United States Government and the benefits of all present and future allotments in aid of flood control.

(1) Cooperate with the United States Department of Defense in every way contemplated by any of the acts of the United States Congress passed in connection with flood control on any of the streams in Arkansas; and

(2) Make necessary application for allotment or assistance from the federal government, to submit all project statements, surveys, plans, specifications, and estimates and other reports or information required by the constituted federal authority, and to enter into all necessary contracts with the proper federal authorities in order to secure the full cooperation of the United States Government and the benefits of all present and future allotments in aid of flood control.

(b) (1) However, the jurisdiction and authority of the commission shall not extend to the works, improvements, nor to the territory embraced within any levee district or drainage district now existing or hereafter organized. (2) All of the limitations and reservations in favor of such levee districts or drainage districts apply as set out in § 15-24-102(c) . (3) (A) Any levee district or drainage district may voluntarily contract with the United States Government or any of its agencies of whatsoever nature and may contract voluntarily with the commission created in this chapter, subject to court approval and recordation as set out in § 15-24-102 , to the extent only as the governing board of each individual levee district or drainage district may deem proper. (B) This chapter shall not require approval by the commission of any application, petition, contract, improvements, legal proceedings, or any other proceedings whatsoever as to the territory within the boundaries of any levee district or drainage district or to any official act of any levee district or drainage district.

(1) However, the jurisdiction and authority of the commission shall not extend to the works, improvements, nor to the territory embraced within any levee district or drainage district now existing or hereafter organized.

(2) All of the limitations and reservations in favor of such levee districts or drainage districts apply as set out in § 15-24-102(c) .

(3) (A) Any levee district or drainage district may voluntarily contract with the United States Government or any of its agencies of whatsoever nature and may contract voluntarily with the commission created in this chapter, subject to court approval and recordation as set out in § 15-24-102 , to the extent only as the governing board of each individual levee district or drainage district may deem proper. (B) This chapter shall not require approval by the commission of any application, petition, contract, improvements, legal proceedings, or any other proceedings whatsoever as to the territory within the boundaries of any levee district or drainage district or to any official act of any levee district or drainage district.

(A) Any levee district or drainage district may voluntarily contract with the United States Government or any of its agencies of whatsoever nature and may contract voluntarily with the commission created in this chapter, subject to court approval and recordation as set out in § 15-24-102 , to the extent only as the governing board of each individual levee district or drainage district may deem proper.

(B) This chapter shall not require approval by the commission of any application, petition, contract, improvements, legal proceedings, or any other proceedings whatsoever as to the territory within the boundaries of any levee district or drainage district or to any official act of any levee district or drainage district.

Acts 1937, No. 212, § 13; Pope's Dig., § 12188; A.S.A. 1947, § 9-805.
Ark. Code Ann. § 15-4-3303 — AR Code / Title 15 / Chapter 4 / Subchapter 33 / Section 15-4-3303
Eligibility for equity investment incentive
Status: in_force

(a) Eligibility for the equity investment incentive tax credit under this subchapter is limited to investments in: (1) Targeted businesses as defined in § 15-4-2703 ; or (2) A business that receives assistance in the form of equity investments from capital investment funds that target early-stage businesses and start-up businesses, if the business: (A) Pays not less than one hundred fifty percent (150%) of the lesser of the county average wage or the state average wage; and (B) Meets at least two (2) of the following conditions: (i) The business is in one (1) of the business sectors set forth in § 15-4-2703 ; (ii) The business is identified in a local or regional economic development plan as the type of business targeted for recruitment or growth within the community or region; (iii) The business is supported by a resolution of the city council or quorum court in the municipality or county in which the business is located or plans to locate; (iv) The business is supported by business incubators certified under § 26-51-815(d) ; (v) The business is supported by federal small business innovation research grants; or (vi) The business is supported by technology development or seed capital investments made by instrumentalities of the state. (b) (1) The award of the equity investment incentive tax credit to a qualified business under subsection (a) of this section shall be determined jointly at the discretion of the Director of the Arkansas Economic Development Commission with the advice of the Board of Directors of the Division of Science and Technology of the Arkansas Economic Development Commission and the President of the Arkansas Development Finance Authority. (2) Only cash investments shall qualify for the equity investment incentive tax credit under this subchapter, including without limitation the initial principal amount of a qualifying convertible financing structure if the convertible financing structure is required to be converted to equity by the business receiving the investment no later than five (5) years from the date the convertible financing structure was consummated. (3) A business that seeks eligibility for an equity investment incentive tax credit under this subchapter shall sign an equity investment incentive agreement with the Arkansas Economic Development Commission. Amended by Act 2019, No. 910,§ 425, eff. 7/1/2019. Amended by Act 2015EX1, No. 8,§ 99, eff. 7/1/2015. Amended by Act 2015EX1, No. 7,§ 99, eff. 7/1/2015. Amended by Act 2015, No. 164,§ 1, eff. 7/22/2015. Acts 2007, No. 566, § 1; 2011, No. 829, § 1.

(a) Eligibility for the equity investment incentive tax credit under this subchapter is limited to investments in: (1) Targeted businesses as defined in § 15-4-2703 ; or (2) A business that receives assistance in the form of equity investments from capital investment funds that target early-stage businesses and start-up businesses, if the business: (A) Pays not less than one hundred fifty percent (150%) of the lesser of the county average wage or the state average wage; and (B) Meets at least two (2) of the following conditions: (i) The business is in one (1) of the business sectors set forth in § 15-4-2703 ; (ii) The business is identified in a local or regional economic development plan as the type of business targeted for recruitment or growth within the community or region; (iii) The business is supported by a resolution of the city council or quorum court in the municipality or county in which the business is located or plans to locate; (iv) The business is supported by business incubators certified under § 26-51-815(d) ; (v) The business is supported by federal small business innovation research grants; or (vi) The business is supported by technology development or seed capital investments made by instrumentalities of the state.

(1) Targeted businesses as defined in § 15-4-2703 ; or

(2) A business that receives assistance in the form of equity investments from capital investment funds that target early-stage businesses and start-up businesses, if the business: (A) Pays not less than one hundred fifty percent (150%) of the lesser of the county average wage or the state average wage; and (B) Meets at least two (2) of the following conditions: (i) The business is in one (1) of the business sectors set forth in § 15-4-2703 ; (ii) The business is identified in a local or regional economic development plan as the type of business targeted for recruitment or growth within the community or region; (iii) The business is supported by a resolution of the city council or quorum court in the municipality or county in which the business is located or plans to locate; (iv) The business is supported by business incubators certified under § 26-51-815(d) ; (v) The business is supported by federal small business innovation research grants; or (vi) The business is supported by technology development or seed capital investments made by instrumentalities of the state.

(A) Pays not less than one hundred fifty percent (150%) of the lesser of the county average wage or the state average wage; and

(B) Meets at least two (2) of the following conditions: (i) The business is in one (1) of the business sectors set forth in § 15-4-2703 ; (ii) The business is identified in a local or regional economic development plan as the type of business targeted for recruitment or growth within the community or region; (iii) The business is supported by a resolution of the city council or quorum court in the municipality or county in which the business is located or plans to locate; (iv) The business is supported by business incubators certified under § 26-51-815(d) ; (v) The business is supported by federal small business innovation research grants; or (vi) The business is supported by technology development or seed capital investments made by instrumentalities of the state.

(i) The business is in one (1) of the business sectors set forth in § 15-4-2703 ;

(ii) The business is identified in a local or regional economic development plan as the type of business targeted for recruitment or growth within the community or region;

(iii) The business is supported by a resolution of the city council or quorum court in the municipality or county in which the business is located or plans to locate;

(iv) The business is supported by business incubators certified under § 26-51-815(d) ;

(v) The business is supported by federal small business innovation research grants; or

(vi) The business is supported by technology development or seed capital investments made by instrumentalities of the state.

(b) (1) The award of the equity investment incentive tax credit to a qualified business under subsection (a) of this section shall be determined jointly at the discretion of the Director of the Arkansas Economic Development Commission with the advice of the Board of Directors of the Division of Science and Technology of the Arkansas Economic Development Commission and the President of the Arkansas Development Finance Authority. (2) Only cash investments shall qualify for the equity investment incentive tax credit under this subchapter, including without limitation the initial principal amount of a qualifying convertible financing structure if the convertible financing structure is required to be converted to equity by the business receiving the investment no later than five (5) years from the date the convertible financing structure was consummated. (3) A business that seeks eligibility for an equity investment incentive tax credit under this subchapter shall sign an equity investment incentive agreement with the Arkansas Economic Development Commission.

(1) The award of the equity investment incentive tax credit to a qualified business under subsection (a) of this section shall be determined jointly at the discretion of the Director of the Arkansas Economic Development Commission with the advice of the Board of Directors of the Division of Science and Technology of the Arkansas Economic Development Commission and the President of the Arkansas Development Finance Authority.

(2) Only cash investments shall qualify for the equity investment incentive tax credit under this subchapter, including without limitation the initial principal amount of a qualifying convertible financing structure if the convertible financing structure is required to be converted to equity by the business receiving the investment no later than five (5) years from the date the convertible financing structure was consummated.

(3) A business that seeks eligibility for an equity investment incentive tax credit under this subchapter shall sign an equity investment incentive agreement with the Arkansas Economic Development Commission.

Amended by Act 2019, No. 910,§ 425, eff. 7/1/2019.

Amended by Act 2015EX1, No. 8,§ 99, eff. 7/1/2015.

Amended by Act 2015EX1, No. 7,§ 99, eff. 7/1/2015.

Amended by Act 2015, No. 164,§ 1, eff. 7/22/2015.

Acts 2007, No. 566, § 1; 2011, No. 829, § 1.
Ark. Code Ann. § 15-73-306 — AR Code / Title 15 / Chapter 73 / Subchapter 3 / Section 15-73-306
Trustee
Status: in_force

(a) The trustee shall be under the continuing control of the circuit court. (b) The court may remove the trustee at will, and on the death, removal from the county, or resignation of the trustee, the court may appoint his or her successor. (c) The trustee, by and with the consent and approval of the court, may invest the funds coming into his or her hands in such securities as guardians are authorized to invest the moneys of their wards. (d) The trustee shall be allowed as compensation for his or her services such sum as the court may fix, not exceeding five percent (5%) of moneys collected by him or her. (e) The court may at any time require the trustee to execute an additional bond. (f) The trustee shall faithfully account for all moneys coming into his or her hands and upon the death of the life tenant shall pay over to the person or persons then entitled thereto all of the moneys so accrued upon order of the chancery court. Acts 1929, No. 76, § 7; Pope's Dig., § 1806; A.S.A. 1947, § 53-309.

(a) The trustee shall be under the continuing control of the circuit court.

(b) The court may remove the trustee at will, and on the death, removal from the county, or resignation of the trustee, the court may appoint his or her successor.

(c) The trustee, by and with the consent and approval of the court, may invest the funds coming into his or her hands in such securities as guardians are authorized to invest the moneys of their wards.

(d) The trustee shall be allowed as compensation for his or her services such sum as the court may fix, not exceeding five percent (5%) of moneys collected by him or her.

(e) The court may at any time require the trustee to execute an additional bond.

(f) The trustee shall faithfully account for all moneys coming into his or her hands and upon the death of the life tenant shall pay over to the person or persons then entitled thereto all of the moneys so accrued upon order of the chancery court.

Acts 1929, No. 76, § 7; Pope's Dig., § 1806; A.S.A. 1947, § 53-309.