GroundRules
Ark. Code Ann. § 6-20-907: Revolving Certificate Proceeds Account
Where this section sits in the code
- AR Code
- Title 6
- Chapter 20
- Subchapter 9
(a) The State Board of Education must receive no less than par and accrued interest for the certificates, which are called "proceeds".
(b) The proceeds shall not be deposited into the Revolving Loan Fund and the certificates shall not be considered obligations owned by the state board for purposes of Acts 1963, No. 443, and the obligations of the state board thereunder.
(c) The state board shall deposit the proceeds into a special fund designated "State Board Certificate Revolving Loan Account", herein sometimes called "Revolving Certificate Proceeds Account".
(d) Any moneys in the Revolving Certificate Proceeds Account not immediately required for the Revolving Loan Program may be invested, pursuant to the direction of the Commissioner of Elementary and Secondary Education, in direct obligations of the United States, and all earnings on investments shall remain in and be part of the Revolving Certificate Proceeds Account.
Collected 2026-09-17T21:35:43Z. Source file · JSON
Compilation CC BY 4.0, Open US Law (Vaquill AI). GroundRules uses only the releases published under CC BY 4.0: from v2026.09 the compilation is licensed CC BY-NC 4.0, and GroundRules does not use those releases. Each affected row names its release in its vintage label. GroundRules parsed and filtered the compilation to retain enacted text. Source · License
Arkansas electronic product files were republished by Public.Resource.Org under a public-domain mark. GroundRules uses enacted text from Release 78 only as a labeled supplement to the newer Open US Law rows. Source