The authorizing resolution may provide for the execution of a trust indenture between the Arkansas Student Loan Authority and any financial institution within or without the State of Arkansas containing any terms, covenants, and conditions that are deemed desirable by the authority, including without limitation those pertaining to the:
(1) Maintenance of various funds and reserves;
(2) Nature and extent of the security for the payment of obligations;
(3) Issuance of additional obligations and the nature of the lien and pledge, parity or priority, in that event;
(4) Custody and application of the proceeds of the obligations;
(5) Collection and disposition of revenues;
(6) Investing and reinvesting of any funds when the funds are not needed for authorized purposes; and
(7) Rights, obligations, and duties of the authority, the trustee, and the holders and registered owners of the obligations.
Section: Previous 6-81-102 6-81-104 6-81-106 6-81-107 6-81-108 6-81-109 6-81-110 6-81-111 6-81-112 6-81-113 6-81-114 6-81-115 6-81-116 6-81-118 NextLast modified: November 15, 2016