§ 6-81-115 - Bonds, notes, etc. -- Contract between Arkansas Student Loan Authority and obligation holder. - Arkansas Statutes

6-81-115. Bonds, notes, etc. -- Contract between Arkansas Student Loan Authority and obligation holder.

(a) Any authorizing resolution by the Arkansas Student Loan Authority and any trust indenture or other loan agreement shall, together with this subchapter, constitute a contract between the authority and the holders of any obligation of the authority.

(b) The contract and all covenants, agreements, and duties therein shall be promptly performed in strict compliance with the terms and provisions of such contract, and the covenants, agreements, and duties of the authority may be enforced by mandamus or other appropriate proceedings at law or in equity.