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Arkansas Code Title 6. Education § 6-62-1202. Loans

Current as of March 28, 2024 | Updated by Findlaw Staff

(a) Under the Sustainable Building Maintenance Program for State-Supported Institutions of Higher Education, the Division of Higher Education may authorize money to be loaned from the Sustainable Building Maintenance Program for State-Supported Institutions of Higher Education Revolving Loan Fund, § 19-5-1285, to a state-supported institution of higher education.

(b) A loan from the fund made under subsection (a) of this section shall be:

(1) For:

(A) Deferred maintenance;

(B) Critical maintenance; or

(C) A renovation of state-owned property; and

(2) In an amount that exceeds one hundred thousand dollars ($100,000).

(c) The term for repayment of a loan from the fund made under subsection (a) of this section shall not exceed ten (10) years.

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Cite this article: FindLaw.com - Arkansas Code Title 6. Education § 6-62-1202. Loans - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-6-education/ar-code-sect-6-62-1202/

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