(a) The Arkansas Development Finance Authority may be dissolved by act of the General Assembly on condition that the authority has no debts or obligations outstanding or provision has been made for the payment or retirement of such debts or obligations.
(b) Upon any such dissolution of the authority, all property, funds, and assets thereof shall be vested in the state.
Structure Arkansas Code
Title 15 - Natural Resources and Economic Development
Subtitle 1 - Development Of Economic And Natural Resources Generally
Chapter 5 - Arkansas Development Finance Authority
Subchapter 2 - Arkansas Development Finance Authority Act — Administration
§ 15-5-201. Creation of authority
§ 15-5-202. Board of directors — Members
§ 15-5-203. Board officers and employees
§ 15-5-204. Prohibition on personal interests in contracts
§ 15-5-207. Rights, powers, privileges, and duties of authority — Definitions
§ 15-5-208. Services of public entities to authority — Expenses
§ 15-5-209. Disposition and use of funds
§ 15-5-211. Dissolution of the authority
§ 15-5-212. Approval of Legislative Council for certain matters