- (a) A board of directors of a regional economic development partnership may terminate the regional economic development partnership upon a majority vote of the board of directors.
- (b) At least a thirty-day notice of intent to terminate a regional economic development partnership must be sent to the Arkansas Economic Development Commission prior to the vote on termination.
- (c) Upon termination of a partnership, the board of directors shall remit any unspent state funds to the commission within sixty (60) days of the notice to terminate the regional economic development partnership.