Public-domain · open source
OpenJurist

Ark. Code Ann. § 15-20-803

Commission to retain financial advisor

Acts 1995, No. 690, § 4.

Prior to the sale, pledge, or other use of the loans or undivided interests in pools of loans, the Arkansas Natural Resources Commission shall retain the services of a financial advisor who shall render, prior to the closing of the contemplated transaction, a fairness opinion which shall verify that:

(1) The loans are properly valued;

(2) The transaction enhancements, if any, are not excessive or unreasonable; and

(3) The terms and conditions of the contemplated transaction are fair and reasonable.

Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.