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24-11-415. Proceeds derived from sale of confiscated goods.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-11-415. Proceeds derived from sale of confiscated goods.
(a)(1)(A) In all cities and towns, all goods confiscated by a police officer of the city, by the sheriff, or by an officer of the Department of Arkansas State Police within the city and that are no longer needed as evidence shall be sold at auction or Internet auction.
(B) The auction or Internet auction shall be held at least annually or more often if the city determines appropriate.
(C) The proceeds derived from the sale of all confiscated goods shall be deposited into the city's policemen's pension and relief fund.
(2) Subdivision (a)(1) of this section shall not supersede any existing provisions of law governing the disposition of confiscated goods.
(b)(1) Until such time as the policemen's pension and relief fund is actuarially sound as determined by the actuary under contract with the Arkansas Fire and Police Pension Review Board, in all cities and towns all moneys confiscated by a police officer of the city, by the sheriff, or by an officer of the Department of Arkansas State Police within the city shall be deposited into the city's policemen's pension and relief fund.
(2) Subdivision (b)(1) of this section shall not supersede any existing provisions of law governing the disposition of confiscated moneys.
(3) At the time that the policemen's pension and relief fund is actuarially sound, all moneys received under this subsection shall be retained by the city.
(c) A policemen's pension and relief fund that has assigned administrative responsibility for the fund to the Arkansas Local Police and Fire Retirement System under § 24-11-406 continues to be eligible to collect and deposit these amounts as contributions until the unfunded liability as a result of the consolidation has been fully amo
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-11-415
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:24-11-415
Source file: gov.ar.code.title.24.odt
Pages: Not recorded – Not recorded
Passage SHA-256: b4e2bc7907b1979996fbf2b695765cd930b16fd7f784a355d626f45910ec4a91
Source location: content.xml paragraph 11768
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24-11-415. Proceeds derived from sale of confiscated goods.
(a)(1)(A) In all cities and towns, all goods confiscated by a police officer of the city, by the sheriff, or by an officer of the Department of Arkansas State Police within the city and that are no longer needed as evidence shall be sold at auction or Internet auction.
(B) The auction or Internet auction shall be held at least annually or more often if the city determines appropriate.
(C) The proceeds derived from the sale of all confiscated goods shall be deposited into the city's policemen's pension and relief fund.
(2) Subdivision (a)(1) of this section shall not supersede any existing provisions of law governing the disposition of confiscated goods.
(b)(1) Until such time as the policemen's pension and relief fund is actuarially sound as determined by the actuary under contract with the Arkansas Fire and Police Pension Review Board, in all cities and towns all moneys confiscated by a police officer of the city, by the sheriff, or by an officer of the Department of Arkansas State Police within the city shall be deposited into the city's policemen's pension and relief fund.
(2) Subdivision (b)(1) of this section shall not supersede any existing provisions of law governing the disposition of confiscated moneys.
(3) At the time that the policemen's pension and relief fund is actuarially sound, all moneys received under this subsection shall be retained by the city.
(c) A policemen's pension and relief fund that has assigned administrative responsibility for the fund to the Arkansas Local Police and Fire Retirement System under § 24-11-406 continues to be eligible to collect and deposit these amounts as contributions until the unfunded liability as a result of the consolidation has been fully amortized.
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Arkansas Code — all titles (historical 2020) · legal_authorities
24-11-406. Administration of small funds by Arkansas Local Police and Fire Retirement System.
(a)(1) In those local police pension and relief funds that cover fewer than five (5) members, a local board of trustees may no longer exist, and the fund shall be designated as inactive by the employer.
(2) As used in this section, “member” includes an active member or a retired member of the fund described in subdivision (a)(1) of this section but does not include beneficiaries.
(b) Administrative responsibility for the fund shall be assigned to the Arkansas Local Police and Fire Retirement System, as allowed by §§ 24-10-301 and 24-10-302 and as provided in the following procedure:
(1)(A) The actuary under contract to the system shall compute the retirement reserve for vested and active members and for eligible beneficiaries of the inactive fund. After receiving the report of the actuary, the employer shall transfer the computed reserve to the system to be held in an account designated as the retirement reserve for the inactive fund and from which the system shall pay eligible beneficiaries.
(B) The retirement reserve and any additional employer contributions shall include such amounts as are necessary to provide administrative expenses for the system, but such expenses shall not exceed a total of one-half of one percent (0.5%) of active member payroll, if any, plus one percent (1%) of annual reserve assets;
(2) Any excess assets of the fund remaining after the retirement reserve is created shall be transferred to an account designated by the employer, to be used solely for the purpose of making payments to the system for employee coverage administered under the system and for no other purpose;
(3) If a former member of the local pension fund returns to service i
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-11-406
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 24-11-406. This identifies an authority to review, not proof of applicability.