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24-2-205. Purchase of obligations not cancellation — Trust.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-2-205. Purchase of obligations not cancellation — Trust.
(a) All obligations purchased or received shall be held in trust for the use and benefit of the system, which trust shall be subject only to the right of the board of trustees to sell or otherwise dispose of the obligations as provided in the various plans.
(b) No purchase or receipt of obligations by a board of trustees shall ever be construed as a cancellation of the obligations so purchased or received.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-2-205
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:24-2-205
Source file: gov.ar.code.title.24.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 7261efcf73169616cb3ef8146f92bfe32c18d038e13ab58f2ffae36b558bc32b
Source location: content.xml paragraph 444
Stored source content
24-2-205. Purchase of obligations not cancellation — Trust.
(a) All obligations purchased or received shall be held in trust for the use and benefit of the system, which trust shall be subject only to the right of the board of trustees to sell or otherwise dispose of the obligations as provided in the various plans.
(b) No purchase or receipt of obligations by a board of trustees shall ever be construed as a cancellation of the obligations so purchased or received.
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