Whenever any corporation organized under this act borrows money, the bonds of the corporation or its other obligations issued to evidence such indebtedness shall be exempt from the provisions of the Arkansas Securities Act, § 23-42-101 et seq.
Structure 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 5 - Industrial Development Corporations
§ 15-4-501. Purpose — Incorporators
§ 15-4-502. Articles of incorporation — Contents
§ 15-4-503. Articles — Signatures and acknowledgment of incorporators
§ 15-4-506. Beginning of corporate existence
§ 15-4-508. Filing corrected articles of incorporation
§ 15-4-511. Amendments to articles of incorporation
§ 15-4-513. Nonprofit operation — Payment of indebtedness
§ 15-4-514. Authority to borrow money, issue bonds, etc
§ 15-4-515. Exemption from Arkansas Securities Act
§ 15-4-517. Bond issue — Terms
§ 15-4-518. Security for bonds
§ 15-4-521. Sale of obligations
§ 15-4-522. Refunding obligations