{"data":{"id":"us-ar/ark.-code-ann.-25-20-425","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 25-20-425","heading":"Sham transactions prohibited","body":"(a) An authority created pursuant to this subchapter shall be prohibited from engaging in any sham transaction. (b) For the purposes of this section, a \"sham transaction\" means the acquisition or construction of an electric project authorized by this subchapter for the purpose of: (1) A subsequent sale or transfer of the electric project to any municipal electric utility, public utility, or other person engaged in the selling or distributing of electricity to consumers other than a municipal electric utility, public utility, or other person engaged in selling or distributing electricity to consumers that was selling or distributing electricity to consumers on July 16, 2003; or (2) Providing electric service directly to an end user. Acts 2003, No. 366, § 1.\n\n(a) An authority created pursuant to this subchapter shall be prohibited from engaging in any sham transaction.\n\n(b) For the purposes of this section, a \"sham transaction\" means the acquisition or construction of an electric project authorized by this subchapter for the purpose of: (1) A subsequent sale or transfer of the electric project to any municipal electric utility, public utility, or other person engaged in the selling or distributing of electricity to consumers other than a municipal electric utility, public utility, or other person engaged in selling or distributing electricity to consumers that was selling or distributing electricity to consumers on July 16, 2003; or (2) Providing electric service directly to an end user.\n\n(1) A subsequent sale or transfer of the electric project to any municipal electric utility, public utility, or other person engaged in the selling or distributing of electricity to consumers other than a municipal electric utility, public utility, or other person engaged in selling or distributing electricity to consumers that was selling or distributing electricity to consumers on July 16, 2003; or\n\n(2) Providing electric service directly to an end user.","path":["AR Code","Title 25","Chapter 20","Subchapter 4"],"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":"e7ec585b7cb7349e01f50922951da7f05362df5939eaff99aa8e74d23d669bb0","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-25-20-424","next":"us-ar/ark.-code-ann.-25-20-501"},"notice":"GroundRules: Original legal text. Not legal advice."}