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19-3-515. Charges on deposits.
Arkansas Code — all titles (historical 2020) · legal_authorities
19-3-515. Charges on deposits.
(a)(1) The Treasurer of State, acting ministerially, may contract with a bank depository or investment depository to pay processing fees for handling funds of the State Treasury if it is deemed to be in the best interest of the State of Arkansas.
(2) The processing fees shall be paid by state warrant from appropriations to the Treasurer of State.
(b) Unless authorized by its contract with the Treasurer of State, a bank depository or investment depository shall not make any charge for handling funds of the State Treasury.
(c) A bank depository or investment depository shall not use compensating deposit balances to offset processing fees.
(d) A claim for a charge or processing fee in violation of this section is void.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-3-515
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:19-3-515
Source file: gov.ar.code.title.19.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 9e81fc831597c163d0f5a5d8d4d736dca9bd3406257ff3a8f8bdd2ba664a16c0
Source location: content.xml paragraph 1265
Stored source content
19-3-515. Charges on deposits.
(a)(1) The Treasurer of State, acting ministerially, may contract with a bank depository or investment depository to pay processing fees for handling funds of the State Treasury if it is deemed to be in the best interest of the State of Arkansas.
(2) The processing fees shall be paid by state warrant from appropriations to the Treasurer of State.
(b) Unless authorized by its contract with the Treasurer of State, a bank depository or investment depository shall not make any charge for handling funds of the State Treasury.
(c) A bank depository or investment depository shall not use compensating deposit balances to offset processing fees.
(d) A claim for a charge or processing fee in violation of this section is void.
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