{"data":{"id":"us-ar/ark.-code-ann.-15-5-1908","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 15-5-1908","heading":"Purchase of student loan notes","body":"Before purchasing a guaranteed educational loan note or an education loan note under this subchapter, the Student Loan Authority Division of the Arkansas Development Finance Authority shall reasonably determine that:\n\n(1) The guaranteed educational loan note or education loan note represents a guaranteed educational loan or education loan actually disbursed to a qualified borrower;\n\n(2) Due diligence both in making and collecting the guaranteed educational loan or education loan has been exercised with respect to that guaranteed educational loan or education loan;\n\n(3) The guaranteed educational loan or education loan meets such other reasonable criteria as may be established from time to time by the Arkansas Development Finance Authority; and\n\n(4) Other defects do not exist affecting the ability of the guaranteed educational loan or education loan to be guaranteed.","path":["AR Code","Title 15","Chapter 5","Subchapter 19"],"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":"1cccd1cbbb2170c06eca9fa241b2e35f9a463c555c5738891550d89fac4d8640","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-15-5-1907","next":"us-ar/ark.-code-ann.-15-5-101"},"notice":"GroundRules: Original legal text. Not legal advice."}