UCA finds itself with illegal line of credit

Arkansas Business is reporting that UCA borrowed money for the past two years in violation of state law. The UCA board met this morning to try and correct the problem by asking DF&A for a line of credit and to get approval for the line of credit it already took from the National Bank of Arkansas in North Little Rock. Former UCA President Lu Hardin told Arkansas Business that he believed some other state schools had private lines of credit similar to UCA's.