(a) An institution of higher education in the state that receives funds under this subchapter from the design-use contribution fee shall use one hundred percent (100%) of the funds exclusively for academic or need-based scholarships.
(b) Procedures and criteria used to determine the distribution of the scholarships shall be established and followed by the endowment funds of the participating institutions of higher education that distribute the funds derived from the special license plates under this subchapter.
Structure Arkansas Code
Subtitle 2 - Motor Vehicle Registration and Licensing
Chapter 24 - Special License Plate Act of 2005
Subchapter 12 - African-American Fraternities and Sororities
§ 27-24-1203. Authority continued
§ 27-24-1204. Additional special license plates
§ 27-24-1205. Design and approval procedure
§ 27-24-1206. Issuance — Renewal — Replacement