6-62-805. Certification by board of trustees.
The board of trustees of each institution shall certify annually by June 15 of each year to the Arkansas Higher Education Coordinating Board:
(1) That the intercollegiate athletic program will generate sufficient revenue through athletic-generated revenue, other auxiliary profits, other coordinating board-approved revenue sources, and the allowable state support as set out in 6-62-803; or
(2) That any athletic deficit will be met by separate institutional board-sanctioned student athletic fees within the limitations established in this subchapter.