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19-8-102. Legal funds.
Arkansas Code — all titles (historical 2020) · legal_authorities
19-8-102. Legal funds.
The legal funds referred to in §§ 19-8-101 — 19-8-107 as being eligible for deposit in depositories shall include any and all funds that may come into the hands of all treasurers, collectors, commissioners, sheriffs, clerks, and receivers by reason of their official capacities as commissioners.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-8-102
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:19-8-102
Source file: gov.ar.code.title.19.odt
Pages: Not recorded – Not recorded
Passage SHA-256: e89309219dda4c84768702bc3f44461badd2c6efd6b151bb1c1ed0f571a54339
Source location: content.xml paragraph 13345
Stored source content
19-8-102. Legal funds.
The legal funds referred to in §§ 19-8-101 — 19-8-107 as being eligible for deposit in depositories shall include any and all funds that may come into the hands of all treasurers, collectors, commissioners, sheriffs, clerks, and receivers by reason of their official capacities as commissioners.
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Arkansas Code — all titles (historical 2020) · legal_authorities
19-8-101. Definitions.
(a) “Bank” or “banking institution” means any state bank, national bank, savings bank, savings association, thrift, or other financial institution authorized to do business and having a main office or branch office in this state, which is insured by the Federal Deposit Insurance Corporation.
(b) “Public funds” or “funds” means any and all kinds of funds handled by treasurers, collectors, commissioners, sheriffs, clerks, and receivers appointed under § 14-62-104.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-8-101
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 19-8-101. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
19-8-107. Depository agreements.
(a)(1) After the receipt from the Bank Commissioner of the list of banks or banking institutions eligible for public deposits, the depository boards shall:
(A) Designate the banks or banking institutions into which the funds shall be deposited; and
(B) With each bank or banking institution designated under subdivision (a)(1)(A) of this section, enter into a depository agreement and any supplemental agreements under subsection (c) of this section needed to perfect security of public deposits not fully insured directly by the United States.
(2) The depository boards may at any time enter into depository agreements with any new bank chartered if the bank is certified by the commissioner as being eligible as a depository of public funds under the laws of this state.
(3)(A) All depository agreements and supplemental agreements required for creating an enforceable perfected security in collateral for deposits of public funds shall continue in full force until the bank or banking institution receives written notice of revocation by the depository board or until there is a change of membership on the depository board as prescribed in this subsection.
(B) Depository agreements and supplemental agreements required to create an enforceable perfected security in collateral for deposits shall be updated at the time a new treasurer takes office.
(C) Except as provided under subdivision (a)(3)(A) of this section, agreements required to be signed by all members of a depository board shall be changed at the time of membership change on the depository board.
(b)(1) The treasurers or other public officials or other persons having custody of public funds shall deposit those public funds into the designated depositories.
(2) The depositing
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-8-107
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 19-8-107. This identifies an authority to review, not proof of applicability.