Browse Arkansas Code titles and sections
19-3-507. Bank depositories generally.
Arkansas Code — all titles (historical 2020) · legal_authorities
19-3-507. Bank depositories generally.
(a) Subject to the conditions and limitations provided in §§ 19-3-508 — 19-3-517, a bank or savings and loan association may be designated as a bank depository.
(b)(1) A bank or savings and loan association is not required to act as a bank depository.
(2) However, the acceptance of a deposit of State Treasury funds requires a bank depository to observe §§ 19-3-508 — 19-3-517.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-3-507
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:19-3-507
Source file: gov.ar.code.title.19.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 8b8c9ed52b06e403402ce6168d2fa228c82c5bbb2e4d0e5553daeed676beaabb
Source location: content.xml paragraph 1174
Stored source content
19-3-507. Bank depositories generally.
(a) Subject to the conditions and limitations provided in §§ 19-3-508 — 19-3-517, a bank or savings and loan association may be designated as a bank depository.
(b)(1) A bank or savings and loan association is not required to act as a bank depository.
(2) However, the acceptance of a deposit of State Treasury funds requires a bank depository to observe §§ 19-3-508 — 19-3-517.
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Arkansas Code — all titles (historical 2020) · legal_authorities
19-3-508. Deposits in ineligible institutions.
(a) The Treasurer of State shall not deposit State Treasury funds into an institution that is not eligible to be a bank depository under § 19-3-507 unless deposits in the institution are required to be made by other law or by resolution of a state board or commission duly adopted pursuant to the authority and requirement of other law.
(b) The prohibition of subsection (a) of this section does not apply to funds payable from the State Treasury that are required by paying agents to meet debt service requirements of bond obligations incurred by law.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-3-508
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 19-3-508. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
19-3-517. Effect of proper deposits.
The deposit of State Treasury funds in accordance with §§ 19-3-507 — 19-3-516 relieves the Treasurer of State and the surety on the Treasurer of State's bond of liability for the loss of the funds by reason of the default or insolvency of a bank depository.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-3-517
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 19-3-517. This identifies an authority to review, not proof of applicability.