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14-169-239. Security for funds deposited.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-169-239. Security for funds deposited.
(a) A housing authority, by resolution, may provide that all moneys deposited by it shall be secured by:
(1) Obligations of the United States or of the state, of a market value equal at all times to the amount of the deposits; or
(2) Any securities in which savings banks may legally invest funds within their control; or
(3) An undertaking, with such sureties as shall be approved by the authority, faithfully to keep and pay over upon the order of the authority any such deposits and agreed interest on them.
(b) All banks and trust companies are authorized to give any such security for the deposits.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-169-239
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:14-169-239
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 09c2e5b437c27ab2d7f3b59c5cc52f1c9eefd747e08db701a90096cc5bd0b60a
Source location: content.xml paragraph 40298
Stored source content
14-169-239. Security for funds deposited.
(a) A housing authority, by resolution, may provide that all moneys deposited by it shall be secured by:
(1) Obligations of the United States or of the state, of a market value equal at all times to the amount of the deposits; or
(2) Any securities in which savings banks may legally invest funds within their control; or
(3) An undertaking, with such sureties as shall be approved by the authority, faithfully to keep and pay over upon the order of the authority any such deposits and agreed interest on them.
(b) All banks and trust companies are authorized to give any such security for the deposits.
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