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14-62-105. Reports and collections by receiver.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-62-105. Reports and collections by receiver.
(a) Every six (6) months, a receiver for an extinct municipal corporation appointed under § 14-62-104 shall make to the circuit court of the Sixth Judicial District a clear and complete statement reflecting all moneys collected, all taxes collected and settled, and all taxes that remain to be collected and settled.
(b)(1) The Department of Finance and Administration shall continue to administer and to collect as provided by law all sales and use taxes of the extinct municipal corporation.
(2) The department shall remit collection of the taxes under subdivision (b)(1) of this section to the receiver appointed under § 14-62-104.
(c)(1)(A) At least one (1) time per month, the receiver shall pay into the State Treasury the whole sum collected or received from taxes.
(B) The receiver shall distinguish the respective sources from which the moneys paid in are derived, reflecting what is collected from taxes for general purposes and what is collected for special purposes, and designating the general or special purpose, so that the moneys may be kept separate in the State Treasury.
(2)(A) At least one (1) time per month, the receiver shall pay into a bank approved under § 19-8-105 the whole sum collected and received from any nontax revenue sources.
(B) The receiver shall distinguish the respective sources from which the moneys paid in are derived, so that the moneys may be kept separate in the bank under subdivision (c)(2)(A) of this section.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-62-105
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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Stable record: arkansas_code:legal_authorities:14-62-105
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 90af101d2a295308c1ad92e7617eef9445edc9c2cea10248edf0d605c104a8f2
Source location: content.xml paragraph 19635
Stored source content
14-62-105. Reports and collections by receiver.
(a) Every six (6) months, a receiver for an extinct municipal corporation appointed under § 14-62-104 shall make to the circuit court of the Sixth Judicial District a clear and complete statement reflecting all moneys collected, all taxes collected and settled, and all taxes that remain to be collected and settled.
(b)(1) The Department of Finance and Administration shall continue to administer and to collect as provided by law all sales and use taxes of the extinct municipal corporation.
(2) The department shall remit collection of the taxes under subdivision (b)(1) of this section to the receiver appointed under § 14-62-104.
(c)(1)(A) At least one (1) time per month, the receiver shall pay into the State Treasury the whole sum collected or received from taxes.
(B) The receiver shall distinguish the respective sources from which the moneys paid in are derived, reflecting what is collected from taxes for general purposes and what is collected for special purposes, and designating the general or special purpose, so that the moneys may be kept separate in the State Treasury.
(2)(A) At least one (1) time per month, the receiver shall pay into a bank approved under § 19-8-105 the whole sum collected and received from any nontax revenue sources.
(B) The receiver shall distinguish the respective sources from which the moneys paid in are derived, so that the moneys may be kept separate in the bank under subdivision (c)(2)(A) of this section.
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Arkansas Code — all titles (historical 2020) · legal_authorities
14-62-104. Receiver — Appointment — Oath — Duties — Authority.
(a) Within five (5) business days of receipt of the order revoking the charter of a municipal corporation under § 14-62-102, the Governor shall appoint a qualified officer, to be known as the receiver, for an extinct municipal corporation whose charter has been revoked under this chapter.
(b) A receiver shall:
(1) Take the oath required of other collectors of public revenue and give bond with good sureties to be approved by the circuit court of the Sixth Judicial District;
(2) Enter upon the duties of the office as soon as appointed and qualified;
(3) Take possession of:
(A) All books, papers, and documents pertaining to the assessment and collection of taxes of the extinct municipal corporation; and
(B) Any property belonging to the extinct municipal corporation; and
(4) Resolve the outstanding indebtedness of the extinct municipal corporation pursuant to this chapter.
(c)(1) The receiver may be removed at any time by the circuit court of the Sixth Judicial District for good cause, including failure to discharge one (1) or more duties imposed by this chapter.
(2) Removal may be upon:
(A) The circuit court's own motion; or
(B) The motion of:
(i) A person interested as an inhabitant of the extinct municipal corporation;
(ii) A creditor of the extinct municipal corporation;
(iii) The county judge of the county in which the extinct municipal corporation was located; or
(iv) The Attorney General on behalf of the state.
(3) A substitute receiver shall be appointed in the same manner as the initial receiver appointed under this chapter.
(4) The office of the receiver shall cease and terminate at the time a final order of dissolution is entered under § 14-62-114.
(d) The receiv
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-62-104
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. The source passage cites 14-62-104. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
19-8-105. Annual list of eligible banks.
(a) Annually, on December 1, the Bank Commissioner shall furnish to the governing board of each city, or town officer, and the county board of each county, and also any officer of any improvement district or any other political subdivision, having the supervision of public funds or funds belonging to the state or any political subdivision a list of all the banks or banking institutions doing business in this state which are members of the Federal Deposit Insurance Corporation. The commissioner shall recommend the maximum amount of deposit of public funds each bank shall be allowed to receive. None of these public funds shall be deposited into any bank other than those contained in the list.
(b) In no instance shall the commissioner recommend, or any bank accept, for deposit more public funds than twenty-five percent (25%) of the total of its general deposits, exclusive of the public funds. Public money in excess of the amount allowed in this section, if approved by the governing board, may be deposited into an authorized bank if the excess deposit is carried in cash, United States Government bonds, Housing and Home Finance Agency bonds, or demand loans on cotton of the kind commonly known as “Commodity Credit Corporation loans”, being only such loans as are guaranteed by the United States.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-8-105
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. The source passage cites 19-8-105. This identifies an authority to review, not proof of applicability.