Section 15-20-803 - Commission to retain financial advisor

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;(2) The transaction enhancements, if any, are not excessive or unreasonable; and(3) The terms and conditions of the contemplated transaction are fair and reasonable.Acts 1995, No. 690, § 4.