§ 15-4-1027 - Investment and loan policy. - Arkansas Statutes

15-4-1027. Investment and loan policy.

(a) A capital development company shall not lend money when credit is readily available on comparable terms elsewhere.

(b) (1) The governing board of a company shall adopt an investment policy consistent with the provisions of this subchapter.

(2) The governing board shall deliver to the Bank Commissioner a copy of the company's investment policy within thirty (30) days after its adoption.

(c) No company under this subchapter shall receive money on deposit.