Income derived from investments made by nonprofit organizations, whether or not the organization is organized or exists under the laws of this state, shall be exempt from state income tax where the income is for the sole purpose of providing pension and annuity benefits to members of the nonprofit organizations.Acts 1965, No. 149, § 1; A.S.A. 1947, § 84-2006.1. Income derived from investments made by nonprofit organizations, whether or not the organization is organized or exists under the laws of this state, shall be exempt from state income tax where the income is for the sole purpose of providing pension and annuity benefits to members of the nonprofit organizations.Acts 1965, No. 149, § 1; A.S.A. 1947, § 84-2006.1.
Arkansas Legal Code