(1) The State Librarian shall invite any library within the state to apply for selection as either a full, select, or digital depository library of state and local documents.
(2) Libraries must show evidence of being able to meet the standards for eligibility.
(3) From those applications, the State Librarian shall name the institutions meeting the standards for eligibility that are to be depository libraries.
(4) The Arkansas State Library shall enter into a formal library contract with each of the designated depository libraries.
(b) Interstate exchange. The Arkansas State Library may enter into:
(1) Interstate library exchange agreements with the document clearinghouse authorities in other states; and
(2) Deposit agreements with major national research libraries.