All of the funds, securities, equities, and assets received by the Student Loan Guarantee Foundation of Arkansas under the provisions of this subchapter shall be used exclusively for the purposes of providing the state's matching reserves requirements or other obligations under Pub. L. No. 89-329, as the funds, securities, equities, and assets relate to insured loans made to students attending institutions of higher education, and in meeting other obligations required by that federal law. None of the funds, securities, equities, or assets shall be used for maintenance, operation, or support of the foundation.Acts 1968 (1st Ex. Sess.), No. 27, § 3; A.S.A. 1947, § 80-4015.
Arkansas Legal Code