§ 6-26-305 - Teacher Housing Fund.
6-26-305. Teacher Housing Fund.
(a) All moneys received by the Arkansas Teacher Housing Development Foundation shall be deposited into one (1) or more accounts at a financial institution located in the State of Arkansas and shall be known as the Teacher Housing Fund.
(b) The fund shall be treated as a cash fund under 19-4-801 et seq.
(c) The moneys in the fund are declared to be revenues of the state and shall be expended only by the foundation and only for the purposes stated in this chapter.
(d) The foundation shall promulgate all rules necessary for implementing the program under this chapter and administering the fund.