{"data":{"id":"us-ar/ark.-code-ann.-15-5-1103","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 15-5-1103","heading":"Definitions","body":"As used in this subchapter:\n\n(1) \"Financial institution\" means all banks, savings and loan associations, corporations organized under the County and Regional Industrial Development Company Act, § 15-4-1201 et seq., and any other lending institutions approved by the Board of Directors of the Arkansas Development Finance Authority;\n\n(2) \"Loss reserve account\" means an account in a financial institution that is established and maintained by the Arkansas Development Finance Authority for the benefit of a financial institution participating in the Arkansas Capital Access Program for Small Business or the Arkansas Credit Reserve Program;\n\n(3) \"Qualified business\" means a person conducting business for profit or not-for-profit who is authorized to conduct business in the State of Arkansas; and\n\n(4) \"Qualified loan\" means a loan or portion of a loan made by a financial institution to a qualified business for any business activity that has its primary economic effect in Arkansas.","path":["AR Code","Title 15","Chapter 5","Subchapter 11"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_ar_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:41Z","sha256":"1ec76a52ad317b7560062aa58935354364d6bc87ed66260ee6ae4d971c4e0806","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-15-5-1102","next":"us-ar/ark.-code-ann.-15-5-1104"},"notice":"GroundRules: Original legal text. Not legal advice."}