Browse Arkansas Code titles and sections
24-9-205. Bank accounts.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-9-205. Bank accounts.
When the governing body of a trust deposits money of that trust in a commercial bank account or in a trust account of a trust department of a bank or other firm normally engaged in providing trust services, the following minimum requirements must be met:
(1) Funds must be deposited into the account in the name of the trust;
(2) Withdrawals from the account, whether by check or warrant, shall require the signatures of the chair and the treasurer of the board of the trust; and
(3)(A) The treasurer shall execute a bond to the board of trustees with good and sufficient sureties in such penal sum as the board shall direct, conditioned on the faithful performance of the duties of his or her office.
(B) The bond shall be filed in the office of the board of trustees.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-9-205
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:24-9-205
Source file: gov.ar.code.title.24.odt
Pages: Not recorded – Not recorded
Passage SHA-256: fd451d514bb3afb97dd5c01bf5f5d04ac3b30f54531b8795ecf41f0f51fb5907
Source location: content.xml paragraph 9572
Stored source content
24-9-205. Bank accounts.
When the governing body of a trust deposits money of that trust in a commercial bank account or in a trust account of a trust department of a bank or other firm normally engaged in providing trust services, the following minimum requirements must be met:
(1) Funds must be deposited into the account in the name of the trust;
(2) Withdrawals from the account, whether by check or warrant, shall require the signatures of the chair and the treasurer of the board of the trust; and
(3)(A) The treasurer shall execute a bond to the board of trustees with good and sufficient sureties in such penal sum as the board shall direct, conditioned on the faithful performance of the duties of his or her office.
(B) The bond shall be filed in the office of the board of trustees.
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