Ark. Code Ann. § 6-23-905: Loan decision

(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) . Amended by Act 2021, No. 544,§ 53, eff. 7/28/2021. Added by Act 2013, No. 1255,§ 1, eff. 8/16/2013.

(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.

(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.

(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) .