109.00.1-IV. MANAGING AND CO-MANAGING UNDERWRITERS.
AR ADC 109.00.1-IVArkansas Administrative Code
Ark. Admin. Code 109.00.1-IV
109.00.1-IV. MANAGING AND CO-MANAGING UNDERWRITERS.
All proposals submitted by underwriters, whether they are responses to an RFP or related to a special project, should list the proposed team of co-managers, if any, and describe the proposed division of the bonds among the team.
ADFA reserves the right to appoint co-managers or change the proposed list of co-managers and at ADFA's discretion, require the use of a selling group for the transaction with emphasis on retail sales or require the use of a financial advisor or pricing advisor. All proposed team members are subject to the approval of ADFA.
As a general rule, the management fee will be distributed to the lead underwriter. It will be at the lead underwriter's discretion as to whether or not the management fee would be shared with co-managers.
The allocation of the Underwriters liability between the senior and co-manager will be negotiated on an issue by issue basis with the final approval by ADFA.
Current with amendments received through February 15, 2024. Some sections may be more current, see credit for details.
Ark. Admin. Code 109.00.1-IV, AR ADC 109.00.1-IV
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