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Current as of March 28, 2024 | Updated by FindLaw Staff
(a) The Division of Public School Academic Facilities and Transportation shall review and assess the accuracy of the information provided in each loan application within a reasonable time after receiving a loan application.
(b)(1) After reviewing and considering the merits of the application, the division may:
(A) Approve the loan requested for the full amount;
(B) Approve the loan requested for an amount less than requested; or
(C) Deny the loan.
(2) The division shall notify the open-enrollment public charter school in writing of the decision.
(c) An open-enrollment public charter school may apply for and accept a loan from the Open-Enrollment Public Charter School Facilities Loan Fund without prior approval from the Commissioner of Elementary and Secondary Education under § 6-23-401(a)(5).
Cite this article: FindLaw.com - Arkansas Code Title 6. Education § 6-23-905. Loan decision - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-6-education/ar-code-sect-6-23-905/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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