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24-7-303. Board of trustees — Officers — Committees.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-7-303. Board of trustees — Officers — Committees.
(a) The Board of Trustees of the Arkansas Teacher Retirement System shall select from its own number a chair and a vice chair.
(b)(1) The trustees shall serve as trustees without compensation for their services as such, except that:
(A) Each trustee may receive expense reimbursement in accordance with § 25-16-901 et seq.; and
(B) The Arkansas Teacher Retirement System shall reimburse a trustee for reasonable expenses incurred in the performance of his or her duties as trustee, including without limitation, the cost of:
(i) A substitute teacher for a trustee; and
(ii) Communication services required for paperless board meetings.
(2) Trustees are authorized to attend all system committee meetings, board meetings, and other official system functions without negative impact on his or her employment status.
(c) The board shall appoint the Executive Director of the Arkansas Teacher Retirement System, and he or she shall serve as its chief executive officer. He or she shall perform, or cause to be performed, such duties as are required of him or her under this act and as the board shall delegate to him or her.
(d) The board shall appoint an actuary or a firm of actuaries to be technical advisor to the board on matters regarding the operation of the system on an actuarial basis. The actuary shall perform such duties as are required of him or her under this act and as are required of him or her by the board from time to time.
(e)(1) The board shall appoint a professional investment counsel to be investment advisor to the board.
(2)(A) No investment shall be made by the board until it has received the advice of its investment advisor.
(B) However, if the contemplated investment involves anything other th
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-7-303
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:24-7-303
Source file: gov.ar.code.title.24.odt
Pages: Not recorded – Not recorded
Passage SHA-256: cf0f308244e191e7fef475f691d24e712732fa39ac1a4b4e4ef96cf4c600908c
Source location: content.xml paragraph 5632
Stored source content
24-7-303. Board of trustees — Officers — Committees.
(a) The Board of Trustees of the Arkansas Teacher Retirement System shall select from its own number a chair and a vice chair.
(b)(1) The trustees shall serve as trustees without compensation for their services as such, except that:
(A) Each trustee may receive expense reimbursement in accordance with § 25-16-901 et seq.; and
(B) The Arkansas Teacher Retirement System shall reimburse a trustee for reasonable expenses incurred in the performance of his or her duties as trustee, including without limitation, the cost of:
(i) A substitute teacher for a trustee; and
(ii) Communication services required for paperless board meetings.
(2) Trustees are authorized to attend all system committee meetings, board meetings, and other official system functions without negative impact on his or her employment status.
(c) The board shall appoint the Executive Director of the Arkansas Teacher Retirement System, and he or she shall serve as its chief executive officer. He or she shall perform, or cause to be performed, such duties as are required of him or her under this act and as the board shall delegate to him or her.
(d) The board shall appoint an actuary or a firm of actuaries to be technical advisor to the board on matters regarding the operation of the system on an actuarial basis. The actuary shall perform such duties as are required of him or her under this act and as are required of him or her by the board from time to time.
(e)(1) The board shall appoint a professional investment counsel to be investment advisor to the board.
(2)(A) No investment shall be made by the board until it has received the advice of its investment advisor.
(B) However, if the contemplated investment involves anything other than financial assets, as defined in § 4-8-102(a)(9), then in lieu of seeking advice from its investment advisor, the board shall seek and receive advice from a person having recognized expertise with respect to the type of investment contemplated.
(f) The board shall appoint a medical committee consisting of three (3) physicians to review applications for disability retirement.
(g) The executive director may employ such other professional and clerical services and purchase such equipment and supplies as are required for the proper operation of the system, subject to the approval of the board.
(h)(1) The compensation of the persons engaged by the board shall be consistent with the pay plan of the state.
(2)(A) All other expenses of the board necessary for the operation of the system shall be paid at such rates and in such amounts as the board shall approve.
(B) The board may create additional committees as necessary and appropriate to fulfill the duties and responsibilities of the board under this chapter.
(i)(1) An audit committee created by the board shall perform an annual employee evaluation of an internal auditor of the system.
(2) The audit committee may:
(A) Meet in executive session, with or without the internal auditor, for the purpose of conducting, reviewing, and discussing the employee evaluation of the internal auditor; and
(B) Gather information necessary to conduct a fair review of the internal auditor.
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Arkansas Code — all titles (historical 2020) · legal_authorities
25-16-901. Definitions — Limitations.
(a) For purposes of this subchapter, the term “state board” means every state board, commission, committee, council, task force, and similar entity except the General Assembly, the State Highway Commission, and the Arkansas State Game and Fish Commission.
(b) This subchapter shall have no effect on the payment of mileage, expense reimbursement, and per diem authorized by law to be paid to members of the General Assembly, the State Highway Commission, and the Arkansas State Game and Fish Commission.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 25-16-901
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 25-16-901. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
4-8-102. Definitions.
(a) In this Chapter:
(1) “Adverse claim” means a claim that a claimant has a property interest in a financial asset and that it is a violation of the rights of the claimant for another person to hold, transfer, or deal with the financial asset.
(2) “Bearer form,” as applied to a certificated security, means a form in which the security is payable to the bearer of the security certificate according to its terms but not by reason of an indorsement.
(3) “Broker” means a person defined as a broker or dealer under the federal securities laws, but without excluding a bank acting in that capacity.
(4) “Certificated security” means a security that is represented by a certificate.
(5) “Clearing corporation” means:
(i) a person that is registered as a “clearing agency” under the federal securities laws;
(ii) a federal reserve bank; or
(iii) any other person that provides clearance or settlement services with respect to financial assets that would require it to register as a clearing agency under the federal securities laws but for an exclusion or exemption from the registration requirement, if its activities as a clearing corporation, including promulgation of rules, are subject to regulation by a federal or state governmental authority.
(6) “Communicate” means to:
(i) send a signed writing; or
(ii) transmit information by any mechanism agreed upon by the persons transmitting and receiving the information.
(7) “Entitlement holder” means a person identified in the records of a securities intermediary as the person having a security entitlement against the securities intermediary. If a person acquires a security entitlement by virtue of § 4-8-501(b)(2) or (3), that person is the entitlement holder.
(8) “Entitlement order” means a no
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-8-102
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 4-8-102. This identifies an authority to review, not proof of applicability.