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19-3-508. Deposits in ineligible institutions.
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. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:19-3-508
Source file: gov.ar.code.title.19.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 340a245f1c4628df12742e8a1001ecfec6b219e398d95fefc636ab48e65f06eb
Source location: content.xml paragraph 1184
Stored source content
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.
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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. The source passage cites 19-3-507. This identifies an authority to review, not proof of applicability.