(a) The Arkansas Economic Development Commission is authorized to use any available revenues for the accomplishment of the purposes set forth in this subchapter.
(b) In carrying out the purposes set forth in this subchapter, the commission will assist minority businesses in obtaining loans or other means of financial assistance.
(c) The terms and conditions of such loans or financial assistance, including the charges for interest and other services, will be consistent with the provisions of this subchapter.
(d) In order to comply with this requirement, efforts will be made to solicit for review and analysis proposed minority business ventures.
(e) It is further provided that basic loan underwriting standards will not be waived to inconsistently favor minority persons or businesses, or both, from the intent of the commission's lending practices.
Structure Arkansas Code
Title 15 - Natural Resources and Economic Development
Subtitle 1 - Development Of Economic And Natural Resources Generally
Chapter 3 - Division of Science and Technology
Subchapter 1 - Division of Science and Technology of the Arkansas Economic Development Commission
§ 15-3-103. Establishment of the division
§ 15-3-106. Executive committee
§ 15-3-108. Nature, powers, and duties generally
§ 15-3-109. Power to carry out programs
§ 15-3-110. Power to promote basic and applied research at Arkansas colleges and universities
§ 15-3-112. Prohibition on personal interest in contracts
§ 15-3-113. Studies, planning, and recommendations — Cooperation with other agencies
§ 15-3-114. Use of land, buildings, or facilities for science and high technology
§ 15-3-115. Pledging of credit
§ 15-3-116. Deposit of moneys — Audit
§ 15-3-117. Use of revenues — Assistance to minority businesses
§ 15-3-122. Purchase of qualified securities — Prerequisites — Advisory committees
§ 15-3-130. Centers for applied technology — Definition
§ 15-3-131. Centers for applied technology — Authority to designate
§ 15-3-132. Centers for applied technology — Criteria — Designation
§ 15-3-133. Centers for applied technology — Advisory committees
§ 15-3-134. Centers for applied technology — Disposition of funds