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26-26-908. Property converted into nontaxable securities.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-26-908. Property converted into nontaxable securities.
(a) If any person shall have converted moneys, credits, or other personal property in the year preceding January 1 of the year in which he or she is required to assess his or her property into bonds or other securities of the United States or this state not taxed, and shall hold or control the bonds or securities when he or she is required to list his or her property, he or she shall list the monthly average value of the moneys, credits, or other property held or controlled by him or her.
(b) Any indebtedness of the persons represented by him or her, created by investment in the bonds or other securities, shall not be deducted from the amount of credits in making up his or her list for taxation.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-26-908
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:26-26-908
Source file: gov.ar.code.title.26.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 3cce836d7d9fd5cf778fd77a33c2cacc38020b78a05e6e1b79abc8f2cd39bc6d
Source location: content.xml paragraph 5253
Stored source content
26-26-908. Property converted into nontaxable securities.
(a) If any person shall have converted moneys, credits, or other personal property in the year preceding January 1 of the year in which he or she is required to assess his or her property into bonds or other securities of the United States or this state not taxed, and shall hold or control the bonds or securities when he or she is required to list his or her property, he or she shall list the monthly average value of the moneys, credits, or other property held or controlled by him or her.
(b) Any indebtedness of the persons represented by him or her, created by investment in the bonds or other securities, shall not be deducted from the amount of credits in making up his or her list for taxation.
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