{"data":{"id":"us-ar/ark.-code-ann.-6-62-1202","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 6-62-1202","heading":"Loans","body":"(a) Under the Sustainable Building Maintenance Program for State-Supported Institutions of Higher Education, the Division of Higher Education may authorize money to be loaned from the Sustainable Building Maintenance Program for State-Supported Institutions of Higher Education Revolving Loan Fund, § 19-5-1285 , to a state-supported institution of higher education. (b) A loan from the fund made under subsection (a) of this section shall be: (1) For: (A) Deferred maintenance; (B) Critical maintenance; or (C) A renovation of state-owned property; and (2) In an amount that exceeds one hundred thousand dollars ($100,000). (c) The term for repayment of a loan from the fund made under subsection (a) of this section shall not exceed ten (10) years. Added by Act 2023, No. 751,§ 1, eff. 8/1/2023.\n\n(a) Under the Sustainable Building Maintenance Program for State-Supported Institutions of Higher Education, the Division of Higher Education may authorize money to be loaned from the Sustainable Building Maintenance Program for State-Supported Institutions of Higher Education Revolving Loan Fund, § 19-5-1285 , to a state-supported institution of higher education.\n\n(b) A loan from the fund made under subsection (a) of this section shall be: (1) For: (A) Deferred maintenance; (B) Critical maintenance; or (C) A renovation of state-owned property; and (2) In an amount that exceeds one hundred thousand dollars ($100,000).\n\n(1) For: (A) Deferred maintenance; (B) Critical maintenance; or (C) A renovation of state-owned property; and\n\n(A) Deferred maintenance;\n\n(B) Critical maintenance; or\n\n(C) A renovation of state-owned property; and\n\n(2) In an amount that exceeds one hundred thousand dollars ($100,000).\n\n(c) The term for repayment of a loan from the fund made under subsection (a) of this section shall not exceed ten (10) years.","path":["AR Code","Title 6","Chapter 62","Subchapter 12"],"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":"6a3c936d9dead2c31f2fd773981e34f111edfa7fdc184a7ade09bdadf860eeee","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-6-62-1201","next":"us-ar/ark.-code-ann.-6-62-1203"},"notice":"GroundRules: Original legal text. Not legal advice."}