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24-11-411. Payments.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-11-411. Payments.
(a) Except as provided in subsection (c) of this section, all moneys paid from the pension and relief fund shall be paid by the treasurer only upon warrants signed by the chair and countersigned by the secretary thereof.
(b) Except as provided in subsection (c) of this section, no warrant shall be drawn except by order of the board, and interest accruing from the fund while on deposit or otherwise shall constitute a part of the fund.
(c) In a policemen's pension and relief fund in which the board has employed a trustee or custodian under § 24-11-410(c) to hold the assets, the trustee or custodian may pay benefits to persons and beneficiaries entitled to benefits under the fund as directed by the board.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-11-411
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:24-11-411
Source file: gov.ar.code.title.24.odt
Pages: Not recorded – Not recorded
Passage SHA-256: c079af87d9cc933ff7f92c9089ab412fa4f5cf3d773a70be6f6a3f660f324035
Source location: content.xml paragraph 11724
Stored source content
24-11-411. Payments.
(a) Except as provided in subsection (c) of this section, all moneys paid from the pension and relief fund shall be paid by the treasurer only upon warrants signed by the chair and countersigned by the secretary thereof.
(b) Except as provided in subsection (c) of this section, no warrant shall be drawn except by order of the board, and interest accruing from the fund while on deposit or otherwise shall constitute a part of the fund.
(c) In a policemen's pension and relief fund in which the board has employed a trustee or custodian under § 24-11-410(c) to hold the assets, the trustee or custodian may pay benefits to persons and beneficiaries entitled to benefits under the fund as directed by the board.
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Arkansas Code — all titles (historical 2020) · legal_authorities
24-11-410. Investment.
(a) The board of trustees of the policemen's pension and relief fund shall have the power to draw sums from its treasury, only upon warrants signed by the chair of the board of trustees of the policemen's pension and relief fund and countersigned by the policemen's pension and relief fund, to invest in the name of the board in interest-bearing bonds of the United States, of the State of Arkansas, or of the city in which the board is located, in a local government joint investment trust pursuant to the Local Government Joint Investment Trust Act, § 19-8-301 et seq., in the Arkansas Local Police and Fire Retirement System, or in savings and loan associations duly established and authorized to do business in this state.
(b) Except as provided in subsection (c) of this section, all securities shall be deposited with the treasurer of the board of trustees of the policemen's pension and relief fund and shall be subject to the order of the board.
(c)(1) In those policemen's pension and relief funds in which assets exceed one hundred thousand dollars ($100,000), the board may employ:
(A) An investment advisor as defined in § 24-10-402(a)(2)(A)(ii) to invest the assets, subject to the terms, conditions, limitations, and restrictions imposed by law upon the Arkansas Local Police and Fire Retirement System, as provided by § 24-10-401 et seq.; and
(B) A trustee or custodian to hold the assets.
(2) Investments shall not be limited to interest-bearing bonds.
(3) The total amount of fees paid for investment advisors, investment advisory services, investment educational services, trustee services, custodial and administrative services, and investment management services when the managers are required to perform security trades on a best execution ba
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-11-410
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. The source passage cites 24-11-410. This identifies an authority to review, not proof of applicability.