(a) Whenever all of the conditions required by this law have been met, the Commissioner of Elementary and Secondary Education shall execute a certificate on each revolving loan bond or revolving loan certificate of indebtedness to the effect that the bond or certificate, and the issue of which it is a part, has been approved by the State Board of Education.(b) Thereafter, each such revolving loan bond or revolving loan certificate of indebtedness shall be a negotiable instrument.Amended by Act 2021, No. 544,§ 38, eff. 7/28/2021.Acts 1953, No. 384, § 10; 1959, No. 64, § 1; A.S.A. 1947, § 80-950.
Arkansas Legal Code