Browse Arkansas Code titles and sections
20-7-410. Investment of funds.
Arkansas Code — all titles (historical 2020) · legal_authorities
20-7-410. Investment of funds.
(a) All moneys held at any time in the State Board of Health Laboratory Revenue Fund and the State Board of Health Public Health Laboratory Construction Fund shall be invested and reinvested to the extent feasible, as directed by the Secretary of the Department of Health.
(b) All moneys held in the State Board of Health Laboratory Revenue Loan Fund shall be invested and reinvested to the extent feasible, as directed by the Arkansas Development Finance Authority, in securities which are eligible for the securing of public deposits under § 19-8-203, subject in all cases to the term of the loan and of bonds issued by the authority.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 20-7-410
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:20-7-410
Source file: gov.ar.code.title.20.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 03c425a842b3765e9214a0b85c44e0ffdcb05eb7a900e6bade41660cca0f5109
Source location: content.xml paragraph 1941
Stored source content
20-7-410. Investment of funds.
(a) All moneys held at any time in the State Board of Health Laboratory Revenue Fund and the State Board of Health Public Health Laboratory Construction Fund shall be invested and reinvested to the extent feasible, as directed by the Secretary of the Department of Health.
(b) All moneys held in the State Board of Health Laboratory Revenue Loan Fund shall be invested and reinvested to the extent feasible, as directed by the Arkansas Development Finance Authority, in securities which are eligible for the securing of public deposits under § 19-8-203, subject in all cases to the term of the loan and of bonds issued by the authority.
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Arkansas Code — all titles (historical 2020) · legal_authorities
19-8-203. Eligible security for deposits.
(a) Whenever, pursuant to any statute of the state, any depository in the State of Arkansas must furnish security for the deposit of any public funds or whenever any security must be granted to any public official in connection with public funds the following shall be considered as eligible security for such purposes and subject to the depositor's discretion regarding the suitability of the collateral:
(1) The pledge or escrow of the assets of the bank consisting of any investment in which a state bank may invest pursuant to § 23-47-401;
(2) A surety bond issued by an insurance company licensed under the laws of the State of Arkansas and either:
(A) Rated “A” or better by any one (1) or more of the following rating agencies:
(i) A.M. Best Company, Inc.;
(ii) Standard & Poor's Insurance Rating Service;
(iii) Moody's Investors Service, Inc.; or
(iv) Duff & Phelps Credit Rating Co.; or
(B) Listed on the then-current United States Department of the Treasury Listing of Approved Sureties;
(3) Private deposit insurance issued by an insurance company licensed under the laws of the State of Arkansas and either:
(A) Rated “A” or better by any one (1) or more of the following rating agencies:
(i) A.M. Best Company, Inc.;
(ii) Standard & Poor's Insurance Rating Service;
(iii) Moody's Investors Service, Inc.; or
(iv) Duff & Phelps Credit Rating Co.; or
(B) Listed on the then-current United States Department of the Treasury Listing of Approved Sureties; or
(4) An irrevocable standby letter of credit issued by a Federal Home Loan Bank.
(b) The aggregate market value of assets pledged or escrowed or the face amount of the surety bond, private deposit insurance, or letter of credit securing the deposit of fund
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-8-203
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 19-8-203. This identifies an authority to review, not proof of applicability.