Browse Arkansas Code titles and sections
24-9-207. Registered securities.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-9-207. Registered securities.
(a)(1) When the governing body of a trust decides to invest trust moneys in registered securities, all the securities purchased shall be issued in the name of the trust with at least the signatures of two (2) members of the board required for renegotiation of the securities.
(2) One (1) signature shall be that of the board treasurer and the other that of the chair of the board.
(b) The securities are to be maintained in the office of the board of trustees or the trust department of a commercial firm normally engaged in providing trust services.
(c)(1) Subsequent to the purchase of the securities, the board of trustees shall request confirmation directly from the issuing company of the registration of the securities. The confirmation shall be made by the board independently of the agent through whom the securities were purchased.
(2) The board of trustees shall maintain copies of the confirmation letters as a part of its records.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-9-207
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:24-9-207
Source file: gov.ar.code.title.24.odt
Pages: Not recorded – Not recorded
Passage SHA-256: d556ba2cbe6c571c5b81386cd89c6359bb9d42261f49778c70d2b7596b82a093
Source location: content.xml paragraph 9589
Stored source content
24-9-207. Registered securities.
(a)(1) When the governing body of a trust decides to invest trust moneys in registered securities, all the securities purchased shall be issued in the name of the trust with at least the signatures of two (2) members of the board required for renegotiation of the securities.
(2) One (1) signature shall be that of the board treasurer and the other that of the chair of the board.
(b) The securities are to be maintained in the office of the board of trustees or the trust department of a commercial firm normally engaged in providing trust services.
(c)(1) Subsequent to the purchase of the securities, the board of trustees shall request confirmation directly from the issuing company of the registration of the securities. The confirmation shall be made by the board independently of the agent through whom the securities were purchased.
(2) The board of trustees shall maintain copies of the confirmation letters as a part of its records.
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