24-4-211. Disposition of funds returned to hospitals withdrawing from system.

Arkansas Code — all titles (historical 2020) · legal_authorities

24-4-211. Disposition of funds returned to hospitals withdrawing from system.

24-4-211. Disposition of funds returned to hospitals withdrawing from system. Any hospital excluding its employees from the Arkansas Public Employees' Retirement System and receiving a return of any funds as provided in § 24-4-302(3) shall immediately invest the funds in a retirement system or plan for the employees of the hospital.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-4-211

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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Arkansas Code — all titles (historical 2020) · legal_authorities

24-4-302. County employees included — Exceptions.

24-4-302. County employees included — Exceptions. All counties in this state shall be subject to the provisions of this act as participating public employers, and all counties shall, from and after July 30, 1959, include their employees, as defined in § 24-4-101(14), (17), and (27), in the membership of the Arkansas Public Employees' Retirement System, except as follows: (1) Any newly constructed county-owned and operated hospital which was first placed in use after December 1, 1975, may elect, by at least a two-thirds (2/3) vote of its governing body, to exclude the employees of the hospital from membership in the system, but only if the election was certified to the Board of Trustees of the Arkansas Public Employees' Retirement System prior to July 1, 1976. However, any hospital electing to exclude its employees from membership under the provisions of this subdivision (1) shall require its employees to become members of the system effective July 1, 1978; (2) A hospital which is owned but not operated by a county and which, subsequent to June 30, 1963, becomes operated by a county, may elect, by at least a two-thirds (2/3) vote of its governing body, to exclude its employees of the hospital from membership in the system, but only if the election is certified to the board within a period of one (1) year from and after the date the hospital becomes operated by a county; (3)(A) In the event the governing body of a county-owned and operated hospital elects to exclude its employees from membership in the system, the employees of the hospital shall thereupon cease to be members of the system. (B) Any balances standing to the credit of the members in the members' deposit account shall be returned to the members. (C) If any hospital elects, after February 1, 1971, a

Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-4-302

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 24-4-302. This identifies an authority to review, not proof of applicability.