reglab/housing_qa huggingface dataset:
AR Code § 15-4-1217 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 12 - County and Regional Industrial Development Company Act|§ 15-4-1217. Authority of other corporations and financial institutions

 Notwithstanding any rule at common law or any provision of law or any provision in their respective articles of incorporation:   (1) All domestic corporations, including nonprofit corporations and associations, organized for the purpose of carrying on business within this state, including, without implied limitation, any public utility, and all trusts, are authorized to acquire, purchase, hold, sell, assign, transfer, mortgage, pledge, or otherwise dispose of any bonds, notes, securities, or other evidences of indebtedness created pursuant to this subchapter or the shares of the common stock or the units of interest of a company organized under this subchapter and, while owners of the stock or units of interest, to exercise all the rights, powers, and privileges of ownership, including the right to vote thereon, all without the approval of any regulatory authority of the state;  (2) All financial institutions are authorized to become members of the company and to make loans to the company as provided in this subchapter;  (3) A financial institution which does not become a member of the company shall not be permitted to acquire any shares of the common stock or units of interest of the company; and  (4)  (A)  (i) Each financial institution which becomes a member of the company is authorized to acquire, purchase, hold, sell, assign, transfer, mortgage, pledge, or otherwise dispose of any bonds, notes, securities, or other evidences of indebtedness created pursuant to this subchapter or the shares of the common stock or the units of interest of the company and, while owners of the stock or units of interest, to exercise all the rights, powers, and privileges of ownership, including the right to vote thereon, all without the approval of any regulatory authority of the state.  (ii) However, the amount of the common stock of a corporation or the units of interest of a limited liability company which may be acquired by any member pursuant to the authority granted in this section shall not exceed ten percent (10%) of the loan limit of each member.    (B) The common stock or the units of interest of a company organized under this subchapter which any member is authorized to acquire pursuant to the authority granted in this section is in addition to the amount of common stock in corporations or units of interest in other business entities which the member may otherwise be authorized to acquire.
AR Code § 15-4-1219 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 12 - County and Regional Industrial Development Company Act|§ 15-4-1219. Withdrawal of members

 (a)  (1) Membership in a company shall be for an indeterminate period not to exceed the termination date of the company stated in its articles of incorporation or articles of organization.  (2) Provided, however, that:  (A) Upon written notice given to a company five (5) years in advance, a member may withdraw from membership in the company at the expiration date of the notice; or  (B)  (i) In the event that a member, herein called a “constituent member”, shall consolidate with, merge into, or sell all or substantially all of its property and assets to another financial institution, herein called the “continuing institution”, the board of directors or the management committee may permit, in such manner as it determines, the withdrawal of the constituent member from membership in the company if the continuing institution at the time of the withdrawal is a member and has assumed any obligation of the constituent member to make loans to the company.  (ii) If the continuing institution is not a member prior to the consolidation, merger, or sale, the assumed obligation shall be discharged at the time the continuing institution becomes a member.        (b) A member shall not be obligated to make any loans to the company pursuant to calls made either before or after the withdrawal of the member.
AR Code § 15-4-1220 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 12 - County and Regional Industrial Development Company Act|§ 15-4-1220. Exemption for securities

 (a)  (1) The stock, units of interest, notes, debentures, bonds, and all other securities or obligations issued by any company organized and existing under the provisions of this subchapter shall be exempt from the provisions of the Arkansas Securities Act, § 23-42-101 et seq.  (2) However, any company organized and existing under the provisions of this subchapter shall not be exempt from the following:  (A) The antifraud provisions of the Arkansas Securities Act, § 23-42-101 et seq., under § 23-42-507;  (B) The criminal provisions for violation of the provisions found in § 23-42-104(a); and  (C) The civil remedies available for violation of the provisions found in § 23-42-106.      (b)  (1) Notwithstanding the provisions of subsection (a) of this section, no company may offer its stock, units of interest, notes, debentures, bonds, or other securities or obligations without filing a notice with the Securities Commissioner before the first offer of the securities to be sold.  (2)  (A) The filing shall state the terms of the offer and how the company intends to comply with the antifraud provisions of the Arkansas Securities Act, § 23-42-101 et seq., and shall be accompanied by copies of any sales materials the company will use in the offer of the securities.  (B) The filing shall be effective upon deposit with the commissioner.  (C) This filing requirement shall be applicable to the initial capitalization of the company and any subsequent offer of stock, units of interest, notes, debentures, bonds, or other securities or obligations or series thereof.      (c) Failure of a company to make the filing required by subsection (b) of this section shall be a basis for imposition of all remedies available to the commissioner for the offer and sale of unregistered and nonexempt securities under the Arkansas Securities Act, § 23-42-101 et seq.
AR Code § 15-4-1221 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 12 - County and Regional Industrial Development Company Act|§ 15-4-1221. Obligations as negotiable instruments

 All bonds, notes, debentures, and other obligations of a company authorized under and issued in compliance with the provisions of this subchapter shall be, shall have, and are declared to have all the qualities and incidents of negotiable instruments under the negotiable instruments laws of the state.
AR Code § 15-4-1222 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 12 - County and Regional Industrial Development Company Act|§ 15-4-1222. Eligibility for certain investments

 Any city or town in this state or any board, commission, or other authority duly established by ordinance of any such city or town or the boards of trustees, respectively, of the firemen's relief and pension fund and the policemen's pension and relief fund of any such city or town may invest any of its funds not immediately needed for its purposes in the bonds and notes of any company organized under the provisions of this subchapter.
AR Code § 15-4-1223 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 12 - County and Regional Industrial Development Company Act|§ 15-4-1223. Exemption from certain taxes

 (a)  (1) County or regional industrial development companies shall be exempt from taxation under the Income Tax Act of 1929, § 26-51-101 et seq., and from the payment of any other income taxes levied by a county or a municipality.  (2) Dividends on stock or distributions with respect to units of interest of any such company pursuant to § 15-4-1215 shall be exempt from all state, county, or municipal income tax.  (3) Interest on bonds, notes, or other obligations of any company issued under and in accordance with the provisions of this subchapter shall be exempt from all state, county, or municipal income taxes.    (b) Corporations and limited liability companies shall file income tax returns each year at the time provided for the filing of corporate or partnership income tax returns, respectively.  (c) A company claiming exemption from income tax under this section shall attach to the return required in subsection (b) of this section a certification from the Bank Commissioner stating that the company has been incorporated or organized and is operating as a corporation or limited liability company in accordance with the provisions of this subchapter.
AR Code § 15-4-1225 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 12 - County and Regional Industrial Development Company Act|§ 15-4-1225. Loan policy

 (a) A company organized under the provisions of this subchapter shall not lend money when credit is readily available with comparable terms elsewhere. Before granting a loan, the directors of a corporation or the management committee of a limited liability company shall endeavor so far as is reasonably possible to ascertain that reasonable opportunity to grant the loan has been given to the financial institutions of the state.  (b) No company organized under the provisions of this subchapter shall receive money on deposit.  (c) The company shall not deposit any of its funds in any banking institution unless the institution has been designated as a depository by a vote of a majority of the directors or a majority of the management committee present at an authorized meeting of the directors or the management committee, exclusive of any director or any member of the management committee who is an officer or director of the depository so designated.
AR Code § 15-4-1226 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 12 - County and Regional Industrial Development Company Act|§ 15-4-1226. Supervision of companies

 (a)  (1) Each company organized under the provisions of this subchapter shall be subject to the general supervision and control of the Bank Commissioner.  (2) In addition to the other duties imposed upon them by law, the powers of the Bank Commissioner are to:  (A) Make reasonable rules which may be necessary to regulate the safety and soundness of the companies for making this subchapter effective;  (B) Conduct investigations which may be necessary to determine whether any person has engaged in or is about to engage in any act or practice constituting a violation of any provision of this subchapter or of the laws of this state;  (C) Conduct any examinations, investigations, and hearings which may be necessary and proper for the efficient administration of the county and regional industrial development company laws of this state and to charge the company for the expense of such examination, investigation, or hearing at the rate of two hundred twenty-five dollars ($225) per examiner per day or partial day; and  (D)  (i) Within the Bank Commissioner's discretion, classify as confidential certain records and information obtained by the State Bank Department when such matters are obtained from an investigation or examination by the department's staff.  (ii) However, applications shall be public documents.        (b) With respect to § 15-4-1220, each company organized under the provisions of this subchapter shall be subject to the specific regulation and control of the Securities Commissioner, who shall have the authority to:  (1) Make reasonable rules which may be necessary for making § 15-4-1220 effective;  (2) Conduct investigations and hearings which may be necessary to determine whether any person has engaged in or is about to engage in any act or practice constituting a violation of § 15-4-1220 and to charge the company for the expense of such an investigation or hearing at the rate of two hundred twenty-five dollars ($225) per investigator per day or partial day;  (3) Conduct any examinations, investigations, and hearings which may be necessary and proper for the efficient administration and application of § 15-4-1220 to county and regional industrial development companies; and  (4) Within the Securities Commissioner's discretion, classify as confidential certain records and information obtained by the Securities Commissioner when such matters are obtained from an investigation or examination by the department's staff.
AR Code § 15-4-1401 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 14 - Inventors' Assistance Act|§ 15-4-1401. Title

 This subchapter shall be known and may be cited as the “Inventors' Assistance Act”.
AR Code § 15-4-1402 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 14 - Inventors' Assistance Act|§ 15-4-1402. Definitions

 As used in this subchapter:   (1) “Center” means the Center for Prototype Development and Emerging Technologies to be developed and operated by the University of Arkansas at Little Rock;  (2) “Commercial state” means the point at which a product has been developed beyond the theoretical and prototype stage and is capable of being manufactured or practiced commercially;  (3) “Gross sales revenues” means all revenues or anything of value received by any person from the sale of a proprietary product;  (4) “Intellectual property” means patents, copyrights, or trademarks acquired pursuant to federal or state law or applications for patent or for copyright or trademark registration;  (5) “Inventor” means any person who conceives a new concept which may result in a proprietary product;  (6) “Person” means any individual, sole proprietor, partnership, or corporation;  (7) “Product” means any device, technique, process, item of manufacture, composition of matter, or work of authorship;  (8) “Product development plan” means a plan prepared by the center for developing a product to the commercial state;  (9) “Proposal” means a plan provided by the inventor which includes technical and descriptive information on a product;  (10) “Proprietary product” means a product patented, copyrighted, or trademarked pursuant to federal or state law or for which an application for patent or for copyright or trademark registration is pending; and  (11) “Royalties” means all things of value received by an inventor in connection with the licensing of a proprietary product or the assignment, sale, or licensing of intellectual property.
AR Code § 15-4-1403 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 14 - Inventors' Assistance Act|§ 15-4-1403. Prototype development center — Objectives of program

 (a) The Board of Trustees of the University of Arkansas, in consultation with the Arkansas Inventors Congress, Inc., is authorized to establish a Center for Prototype Development and Emerging Technologies at the University of Arkansas at Little Rock to provide assistance to inventors.  (b) The inventors' assistance program shall be designed to:  (1) Attract inventors from throughout this state, the nation, and other countries and encourage them to submit their proposals for review and evaluation;  (2)  (A) Provide assistance to inventors whose proposals are accepted after evaluation and review.  (B) Assistance may include limited patent searches, market analysis, product research and development, assistance in obtaining financing, business counseling, and any other assistance not prohibited by the Arkansas Constitution or laws of this state which is necessary to develop the product to the commercial state.  (C) To protect both the state and the inventor, a disclosure document shall be on file with the United States Patent and Trademark Office before the center will review a proposal;    (3) Provide assistance to enable the manufacturing, marketing, and distribution of the product; and  (4) Protect the confidentiality of each inventor's proposals to the extent permitted by law.
AR Code § 15-4-1404 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 14 - Inventors' Assistance Act|§ 15-4-1404. Authority of board

 (a) The Board of Trustees of the University of Arkansas, on behalf of the Center for Prototype Development and Emerging Technologies, may:  (1) Enter into contracts on a competitive-bid basis or noncompetitive-bid basis, consistent with state laws and rules, with public and private agencies, institutions, organizations, and individuals for the purpose of providing assistance to and services for inventors as required by this subchapter;  (2) Solicit the support and contribution of public and private agencies, organizations, institutions, and individuals;  (3) Receive and administer funds for the purpose of operating the inventors' assistance program;  (4) Advertise and promote the inventors' assistance program;  (5) Adopt policies and procedures to implement the provisions of this subchapter; and  (6) Acquire security interests in intellectual property to the extent necessary to protect the state's interest in the fees charged pursuant to § 15-4-1406.    (b) The board, on behalf of the center, is authorized to enter into a written contract with each center employee which shall include provisions designed to protect the confidentiality of inventors' proposals and to prohibit the employee from using information gained at the center to compete with or disadvantage any inventor.
AR Code § 15-4-1405 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 14 - Inventors' Assistance Act|§ 15-4-1405. Annual report

 (a) The Center for Prototype Development and Emerging Technologies shall submit an annual report based on the fiscal year on or before December 31 of each year to the Governor and shall file an electronic copy of the report with the Legislative Council to be reviewed by the House Committee on State Agencies and Governmental Affairs and the Senate Committee on State Agencies and Governmental Affairs.  (b) The report shall include, but not be limited to:  (1) The number of proposals submitted for review and evaluation;  (2) The number of proposals accepted for development and the number rejected;  (3) The number of products patented;  (4) The number of products developed to the commercial state;  (5) The number of jobs created and preserved as a result of the manufacturing, marketing, packaging, warehousing, and distribution of products; and  (6) An estimate of the multiplier effect on the Arkansas economy as a result of jobs so created and preserved.
AR Code § 15-4-1406 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 14 - Inventors' Assistance Act|§ 15-4-1406. Fees — Review of proposals

 (a) The Center for Prototype Development and Emerging Technologies shall charge a filing fee of up to five hundred dollars ($500) for each proposal submitted for review and evaluation, depending upon the cost to research the proposal as determined by the center.  (b) After review and evaluation, proposals shall be accepted or rejected for product development under the inventors' assistance program.
AR Code § 15-4-1408 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 14 - Inventors' Assistance Act|§ 15-4-1408. Inventors' Assistance Program Fund

 There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the “Inventors' Assistance Program Fund”. This fund shall consist of all moneys received by the Center for Prototype Development and Emerging Technologies for implementation of this subchapter and all fees received pursuant to this subchapter. Moneys received into the fund are authorized to be applied to implement this subchapter. Any amount in the fund not directly needed to implement this subchapter shall go to the general revenue fund of the state.
AR Code § 15-4-1601 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 16 - Arkansas Economic Development Incentive Act of 1993|§ 15-4-1601. Title

 This subchapter may be referred to and cited as the “Arkansas Economic Development Incentive Act of 1993”.
AR Code § 15-4-1603 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 16 - Arkansas Economic Development Incentive Act of 1993|§ 15-4-1603. Economic Development Incentive Fund

 There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the “Economic Development Incentive Fund” of the Arkansas Economic Development Commission. The fund shall consist of revenues designated for this fund by the Revenue Division of the Department of Finance and Administration pursuant to agreements entered into by the Arkansas Economic Development Commission with qualified businesses.