(b) Definitions. As used in this section and Acts 1975, No. 882:

1. (1) “Charitable corporation or trust” means any nonprofit organization that meets the criteria established and is so designated by the Old State House Commission to be a recipient of preservation restrictions established under Acts 1975, No. 882; and

2. (2) “Preservation restriction” means a right, whether or not stated in the form of a restriction, easement, covenant, or condition, in any deed, will, or other instrument executed by or on the behalf of the owner of the land or in any other order of taking, appropriate to the preservation of the structure, site, or open space historically significant for its architecture or archeology, to forbid to limit any or all:

   1. (A) Alterations in exterior or interior features of the structure;
   2. (B) Changes in the appearance or condition of the site;
   3. (C) Uses not historically appropriate; or
   4. (D) Other acts or uses detrimental to appropriate preservation of the:

(i) Structure;

1. (ii) Site; or

   1. (iii) Open space.

      1. (c) Determination of charitable corporation or trust.
2. (1) The commission shall review all private organizations that desire to be recipients of preservation restriction to determine if they qualify under the requirements established.

3. (2) All such organizations shall:

   1. (A) Be organized as nonprofit corporations under the laws of Arkansas or authorized to do business in Arkansas;
   2. (B) Be authorized in their articles of incorporation to acquire title to property;
   3. (C) Designate as one (1) of their primary purposes in their articles of incorporation the promotion of historic preservation;
   4. (D) Be designated as 501(c)(3) corporations by the Internal Revenue Service; and

   5. (E) Demonstrate the ability to administer and enforce any preservation restrictions held by them.

      1. (d) Evaluation of property to be subject to preservation restriction.

4. (1)

   1. (A) The commission shall evaluate all property that is suggested as appropriate for a preservation restriction.
   2. (B) The evaluation should determine whether the significance is architectural and/or historical as well as whether its importance is of national, state, or local significance.
   3. (C) A National Register of Historic Places inventory nomination form shall be prepared on each piece of property to assist the commission in its deliberations.

5. (2) Criteria to be taken into consideration shall include, but not be limited to, the following:

   1. (A) Listed or eligible to be listed on the National Register of Historic Places or State Register of Historic Places, or recognized locally (Quapaw Quarter Plaque, for example);
   2. (B) Located within a National Register Historic District or one (1) established under local law;
   3. (C) Effect on property as a result of any national, state, regional, and local comprehensive land use or development plan;
   4. (D) Possibility of destruction without the restriction;
   5. (E) Uniqueness of property;
   6. (F) Public access to property; and
   7. (G) Use of property.

(e) Procedure for creating preservation restriction:

1. (1) Complete a National Register of Historic Places inventory nomination form;
2. (2) Determine what shall be included in the preservation restriction (e.g., interior/exterior easement, height restriction, etc.);
3. (3) Complete the sample preservation restriction form, which will be provided by the commission;
4. (4) Present the documents for review and approval by the commission;
5. (5) After execution of the document and signature of the Director of the Old State House Commission it shall be filed with the circuit clerk of the county in which the property is located; and

6. (6) After filing, copies shall be sent to the:

   1. (A) Commission;
   2. (B) Property owner; and
   3. (C) Recipient.

(f) Review procedures.

1. (1) At least once a year the recipient of the preservation restriction will inspect the property to ensure that the provisions of the restriction are being followed.
2. (2) If it is found that the restriction is not being followed, the Attorney General’s office shall take steps for enforcement.

(h) Termination procedures.

1. (1) Should a property owner or restriction holder request that a restriction be terminated, the commission shall hold a public hearing to determine whether it is in the best public interest to cancel the restriction.

2. (2) The procedures for holding a public hearing, as outlined in the Arkansas Administrative Procedure Act, Arkansas Code § 25-15-201 et seq., shall be followed.

   1. (i) Limitations. Nothing in this part shall be construed to imply that any restriction, easement, covenant, or condition that does not come within the purview of this part shall, on account of these provisions, be unenforceable.