Browse Arkansas Code titles and sections
24-12-202. Authority to employ investment advisor — Investment policy.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-12-202. Authority to employ investment advisor — Investment policy.
(a) A board of trustees of a city nonuniformed employees' pension plan with assets in excess of one hundred thousand dollars ($100,000) may employ an investment advisor as its agent to make investment recommendations and to invest the assets pursuant to a written board investment policy, provided that the governing body of the city declares such services professional services under § 19-11-806 [repealed], and subject to the terms, conditions, limitations, and restrictions imposed by law upon investments of state retirement systems as set forth in §§ 24-2-610 — 24-2-619.
(b) The investment policy shall not limit the investments to interest-bearing bonds.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-12-202
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:24-12-202
Source file: gov.ar.code.title.24.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 32572db06a869e73b65d8f6756b7bf11d59727f66c468ce07e0b18dd2c4b9174
Source location: content.xml paragraph 13322
Stored source content
24-12-202. Authority to employ investment advisor — Investment policy.
(a) A board of trustees of a city nonuniformed employees' pension plan with assets in excess of one hundred thousand dollars ($100,000) may employ an investment advisor as its agent to make investment recommendations and to invest the assets pursuant to a written board investment policy, provided that the governing body of the city declares such services professional services under § 19-11-806 [repealed], and subject to the terms, conditions, limitations, and restrictions imposed by law upon investments of state retirement systems as set forth in §§ 24-2-610 — 24-2-619.
(b) The investment policy shall not limit the investments to interest-bearing bonds.
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Arkansas Code — all titles (historical 2020) · legal_authorities
19-11-806. [Repealed.]
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-11-806
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: repealed. The source passage cites 19-11-806. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-2-610. Prudent investor rule.
(a) Except as otherwise provided in subsection (b) of this section, trustees who invest and manage trust assets owe a duty to the beneficiaries of the trust to comply with the prudent investor rule set forth in §§ 24-2-610 — 24-2-619.
(b)(1) The prudent investor rule, a default rule, may be expanded, restricted, eliminated, or otherwise altered by the provisions of a trust.
(2) Trustees are not liable to a beneficiary to the extent that the trustees acted in reasonable reliance on the provisions of the trust.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-2-610
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 24-2-610. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-2-619. Language invoking standard of subchapter.
The following terms or comparable language in the provisions of a trust, unless otherwise limited or modified, authorizes any investment or strategy permitted under this subchapter:
(1) “Investments permissible by law for investment of trust funds”;
(2) “Legal investments”;
(3) “Authorized investments”;
(4) “Using the judgment and care under the circumstances then prevailing that persons of prudence, discretion, and intelligence exercise in the management of their own affairs, not in regard to speculation but in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of their capital”;
(5) “Prudent man rule”;
(6) “Prudent trustee rule”;
(7) “Prudent person rule”; and
(8) “Prudent investor rule”.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-2-619
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 24-2-619. This identifies an authority to review, not proof of applicability.