Statutes > Arkansas Statutes > Title 15 - Natural Resources and Economic Development > Subtitle 1 - Development Of Economic And Natural Resources Generally > Chapter 4 - Development Of Business And Industry Generally > Subchapter 9 - Arkansas Development Finance Corporation Act > § 15-4-907 - Application for preliminary approval.

§ 15-4-907 - Application for preliminary approval.

15-4-907. Application for preliminary approval.

Any fifteen (15) or more qualified natural persons, all of whom shall be bona fide residents of this state and among whom each of the congressional districts in the state shall have at least one (1) representative and who desire to associate themselves for the purpose of establishing and operating a development finance corporation, may subscribe, acknowledge, and file with the Bank Commissioner for preliminary approval proposed articles of incorporation, in duplicate, as authorized by 15-4-906.