Statutes > Arkansas Statutes > Title 6 - Education > Subtitle 5 - Postsecondary And Higher Education Generally > Chapter 62 - Property And Finances Of State Institutions > Subchapter 6 - Transfer or Lease of Property > § 6-62-607 - Right to mortgage or encumber property -- Right to cure default.

§ 6-62-607 - Right to mortgage or encumber property -- Right to cure default.

6-62-607. Right to mortgage or encumber property -- Right to cure default.

(a) The transfer of any property shall authorize the owner to mortgage or otherwise encumber the property.

(b) However, the board shall retain the right to cure any default of the owner that could result in loss of possession by the owner, including a default in the payment of property taxes owed by such owner.