15 CAR § 85-108 – Miscellaneous matters

(a) Closing requirements.
1. (1) The Board of Directors of the Arkansas Development Finance Authority has delegated to the President of the Arkansas Development Finance Authority the authority to implement closing requirements that are financially prudent for each development awarded Arkansas Development Finance Authority resources.
2. (2) Recipients will be notified of closing requirements as promptly as possible after notice of award or awards.
3. (3)
  1. (A) The standard list of information and documents required prior to closing is available on the Arkansas Development Finance Authority website.
  2. (B) The president has the authority and discretion to add, modify, or waive requirements.
(b) Partnership documentation. Tax credit recipients must provide the Arkansas Development Finance Authority with a copy of the executed partnership agreements, including, but not limited to, the initial partnership agreement, the amended and restated limited partnership agreement, or operating agreement, promptly upon its execution.