Browse Arkansas Code titles and sections
14-188-118. Security for deposits.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-188-118. Security for deposits.
(a) A rural development authority shall provide by resolution 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;
(2) Any securities in which savings banks may legally invest funds within their control;
(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; or
(4) Other obligations allowed by law.
(b) All banks and trust companies are authorized to give any such security for such deposits.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-188-118
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:14-188-118
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: c6d74cea73100fba9aab929ffcd34425d21220a648db8fa4dd0f157d299e5121
Source location: content.xml paragraph 44350
Stored source content
14-188-118. Security for deposits.
(a) A rural development authority shall provide by resolution 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;
(2) Any securities in which savings banks may legally invest funds within their control;
(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; or
(4) Other obligations allowed by law.
(b) All banks and trust companies are authorized to give any such security for such deposits.
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