Browse Arkansas Code titles and sections
24-12-110. Payments.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-12-110. Payments.
(a) Except as provided in subsection (c) of this section, all moneys paid from the pension and relief fund for paid nonuniformed employees 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 the order of the board of trustees of the pension and relief fund for paid nonuniformed employees, and interest accruing from the fund, while on deposit or otherwise, shall constitute a part of the fund.
(c) In a pension and relief fund for paid nonuniformed employees in which the board has employed a trustee or custodian under § 24-12-109(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) · 24-12-110
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:24-12-110
Source file: gov.ar.code.title.24.odt
Pages: Not recorded – Not recorded
Passage SHA-256: c0be049bdc93adfe94c21fec9ee00fb9f37f600f046711f5ad81fba26ef83fe4
Source location: content.xml paragraph 13056
Stored source content
24-12-110. Payments.
(a) Except as provided in subsection (c) of this section, all moneys paid from the pension and relief fund for paid nonuniformed employees 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 the order of the board of trustees of the pension and relief fund for paid nonuniformed employees, and interest accruing from the fund, while on deposit or otherwise, shall constitute a part of the fund.
(c) In a pension and relief fund for paid nonuniformed employees in which the board has employed a trustee or custodian under § 24-12-109(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
24-12-109. Investment.
(a) The board of trustees of the pension and relief fund for paid nonuniformed employees shall have the power to draw sums from its treasury to invest in the name of the board of trustees of the pension and relief fund for paid nonuniformed employees in interest-bearing bonds of the United States, of the State of Arkansas, or of the city in which the board is located or in a local government joint investment trust pursuant to the Local Government Joint Investment Trust Act, § 19-8-301 et seq.
(b) All securities shall be deposited with the treasurer of the board of trustees of the pension and relief fund and shall be subject to the orders of the board.
(c)(1) In those pension and relief funds for paid nonuniformed employees in which assets exceed one hundred thousand dollars ($100,000), the board of trustees may employ:
(A) An investment advisor to invest the assets, subject to the terms, conditions, limitations, and restrictions imposed by law upon the Arkansas Public Employees' Retirement System; and
(B) A trustee or custodian to hold the assets.
(2) The investments shall not be limited to interest-bearing bonds.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-12-109
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 24-12-109. This identifies an authority to review, not proof of applicability.