(a) The Arkansas Economic Development Council may serve in an advisory capacity to the Director of the Arkansas Economic Development Commission, the Governor, and the General Assembly.
(b) A primary function of the council is to approve the issuance of guaranties of amortization payments on Act No. 9 bonds under the Industrial Revenue Bond Guaranty Law, § 15-4-601 et seq.
(c) The addition or elimination of international offices of the Arkansas Economic Development Commission by the commission shall first be approved by the council.
(d) By a majority vote, the council may establish or dissolve committees and subcommittees as needed.