Arkansas Code Title 15, Subtitle 1, Chapter 5, Subchapter 11 - Arkansas Capital Access Program for Small Business Act of 1993

• § 15-5-1101 - Title.
  This subchapter may be referred to and cited as the "Arkansas Capital Access Program for Small Business Act of 1993".
• § 15-5-1102 - Legislative Findings and Declaration of Public Necessity.
  (a) The General Assembly finds: (1) There is a persistent shortage of capital available to small businesses in Arkansas, and there exists an immediate...
• § 15-5-1103 - Definitions.
  As used in this subchapter: (1) "Financial institution" means all banks, savings and loan associations, corporations organized under either the Arkansas Development Finance Corporation...
• § 15-5-1104 - Contracts With Financial Institutions -- Contents of Contract.
  (a) The Arkansas Development Finance Authority may contract with a financial institution for the purpose of allowing the financial institution to participate in the...
• § 15-5-1105 - Capital Access Fund -- Use -- Investment Earnings -- Administrative Expenses.
  (a) There is created within the Arkansas Development Finance Authority the "Capital Access Fund".(b) (1) All moneys deposited into the fund are for the...
• § 15-5-1106 - Loss Reserve Accounts -- Limitation on Amount.
  (a) The Arkansas Development Finance Authority shall establish a loss reserve account for each financial institution with which the authority makes a contract.(b) The...
• § 15-5-1107 - Enrollment of Qualified Loan -- Procedure -- Fee -- Transfers to Loss Reserve Account.
  (a) (1) When a financial institution participates in the Arkansas Capital Access Program for Small Business or the Arkansas Credit Reserve Program, if the...
• § 15-5-1108 - Claims for Reimbursement of Losses -- Amounts Subject to Reimbursement.
  (a) The Arkansas Development Finance Authority shall establish procedures under which financial institutions participating in the Arkansas Capital Access Program for Small Business or...
• § 15-5-1109 - Rules.
  The Arkansas Development Finance Authority may adopt such rules as it considers necessary to carry out its duties, functions, and powers relating to the...
• § 15-5-1110 - Financial Report of Capital Access Fund.
  (a) At least annually, the Arkansas Development Finance Authority shall prepare a report conforming to generally accepted accounting principles that describes the financial condition...
• § 15-5-1111 - Arkansas Credit Reserve Program.
  The Arkansas Development Finance Authority shall establish the Arkansas Credit Reserve Program within the Arkansas Capital Access Program for Small Business.

Last modified: November 15, 2016