§ 15-4-101. Title

This act shall be referred to and may be cited as the “Arkansas Industrial Development Act”.

§ 15-4-102. Construction

(a) This section and §§ 15-4-101, 15-4-201 — 15-4-204, 15-4-206, 15-4-209, 15-4-210, and § 15-4-501 et seq. shall be construed liberally. (b) The enumeration of any object, purpose, power, manner, method, or thing shall not be deemed to exclude like or similar objects, purposes, powers, manners, methods, or things.

§ 15-4-103. Registration of community development corporations — Definition

(a) As used in this section, “qualified community development corporation” means an organization chartered under the Arkansas nonprofit corporation law which: (1) Is governed by a board consisting of the area’s business, professional, and civic leaders; (2) Has a record of implementing economic development projects or whose articles of incorporation or bylaws state the organization’s […]

§ 15-4-104. Bond guaranty programs for employee stock purchases

(a) When an Arkansas-based employee stock ownership plan buys at least twenty percent (20%) of the stock of an Arkansas-based business entity formed under Arkansas law and the Director of the Arkansas Economic Development Commission determines that had it not been for the purchase by the employee stock ownership plan that Arkansas jobs would have […]