Whenever any corporation organized under this subchapter shall have borrowed money from any federal agency, the obligations issued to secure the payment of such money shall be exempt from the provisions of the Arkansas Securities Act, § 23-42-101 et seq. The provisions of the Arkansas Securities Act, § 23-42-101 et seq., shall not apply to the issuance of membership certificates by any corporation organized under this subchapter.
Ark. Code Ann. § 23-18-330
Exemptions from Arkansas Securities Act
Acts 1937, No. 342, § 32; Pope's Dig., § 2346; A.S.A. 1947, § 77-1132; Acts 1999, No. 1556, § 17.
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.