Ark. Code § 25-20-425

Current with legislation from 2024 Fiscal and Special Sessions.
Section 25-20-425 - Sham transactions prohibited
(a) An authority created pursuant to this subchapter shall be prohibited from engaging in any sham transaction.
(b) For the purposes of this section, a "sham transaction" means the acquisition or construction of an electric project authorized by this subchapter for the purpose of:
(1) A subsequent sale or transfer of the electric project to any municipal electric utility, public utility, or other person engaged in the selling or distributing of electricity to consumers other than a municipal electric utility, public utility, or other person engaged in selling or distributing electricity to consumers that was selling or distributing electricity to consumers on July 16, 2003; or
(2) Providing electric service directly to an end user.

Ark. Code § 25-20-425

Acts 2003, No. 366, § 1.