Title 23 — Public Utilities and Regulated Industries
95 chapters · 4,024 sections in this title.
Ark. Code Ann. § 23-18-908 Choice of law — Conflicts
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(a) (1) The law governing the validity, enforceability, attachment, perfection, priority, exercise of remedies, and venue with respect to the sale, assignment, or transfer of an interest or right or the creation of a security interest in any storm recovery property shall be exclu…
Ark. Code Ann. § 23-18-909 Storm recovery bonds not public debt — Legal investments
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(a) (1) Storm recovery bonds are not a debt or a general obligation of the state or any of its political subdivisions, agencies, or instrumentalities and are not a charge on their full faith and credit.(2) An issue of storm recovery bonds does not, directly or indirectly or conti…
Ark. Code Ann. § 23-18-910 Tax treatment
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(1) The Arkansas state income tax treatment of the following events will conform to the federal income tax treatment of the events:(1) A utility's receipt of a financing order that creates storm recovery property for the benefit of the utility;(2) The utility's receipt of cash or…
Ark. Code Ann. § 23-18-911 State pledge — Definition
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(a) For purposes of this section, the term “bondholder” means a person who holds, owns, or is the beneficial holder or owner of a storm recovery bond. (b) (1) The state and its agencies, including the Arkansas Public Service Commission, pledge to and agree with bondholders, the o…
Ark. Code Ann. § 23-18-912 Assignee or financing party not a utility
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An assignee or financing party shall not be considered a utility or person providing electric or natural gas service by virtue of engaging in the transactions described in this subchapter.