As used in this subchapter: (1) “Commission” means the Arkansas Natural Resources Commission; (2) “Fairness opinion” means a written opinion by the commission’s financial advisor stating that the proposed transaction is structured in a commercially reasonable manner and that the commission is receiving fair, adequate, and equitable consideration in exchange for the sale or pledge […]
(a) (1) The Arkansas Natural Resources Commission is authorized to pledge or sell loans or undivided interests in pools of loans to investors in consideration for the payment to the commission of cash or cash equivalents. (2) The commission is further authorized to: (A) Sell the loans or undivided interests in pools of loans to […]
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; […]
(a) In no event shall the Arkansas Natural Resources Commission obligate or pledge the full faith and credit of the State of Arkansas to secure any obligation sold, pledged, or placed with investors under this subchapter. (b) (1) The commission shall not pledge its full faith and credit to secure any obligation sold, pledged, or […]
