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28-65-312. Retention of property and investment.
Arkansas Code — all titles (historical 2020) · legal_authorities
28-65-312. Retention of property and investment.
(a) If it is in the best interest of the ward or his or her estate, the court may order the guardian of the estate to retain any property belonging to the ward which may come into the hands of the guardian otherwise than by purchase by the guardian, whether or not the property is of the nature authorized by § 28-65-311, as an investment of the ward's funds.
(b) If the guardian of the estate makes an investment which at the time of the making thereof shall meet the requirements of § 28-65-311 and the investment later fails to meet the requirements, the guardian may retain the investment, unless otherwise directed by the court.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 28-65-312
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:28-65-312
Source file: gov.ar.code.title.28.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 07ba38f6d22ac16759c65aaf98507ed1c0d88cf48ade0b2545c39a12adee63ce
Source location: content.xml paragraph 9369
Stored source content
28-65-312. Retention of property and investment.
(a) If it is in the best interest of the ward or his or her estate, the court may order the guardian of the estate to retain any property belonging to the ward which may come into the hands of the guardian otherwise than by purchase by the guardian, whether or not the property is of the nature authorized by § 28-65-311, as an investment of the ward's funds.
(b) If the guardian of the estate makes an investment which at the time of the making thereof shall meet the requirements of § 28-65-311 and the investment later fails to meet the requirements, the guardian may retain the investment, unless otherwise directed by the court.
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Arkansas Code — all titles (historical 2020) · legal_authorities
28-65-311. Investments.
(a) The guardian of the estate may, and when ordered by the court shall, deposit as a fiduciary, the funds of the ward in a financial institution of this state, as a general deposit, either in a checking account or a savings account.
(b) The guardian shall invest the funds of the ward not reasonably needed for the ward's care, maintenance, or education in securities selected by the guardian from among the following categories:
(1) Bonds, notes, or certificates of indebtedness which are the direct obligations of, or the principal and income of which are unconditionally guaranteed by, the United States;
(2) Bonds or notes issued by the State of Arkansas;
(3) Arkansas State Board of Education bonds issued under Acts 1937, No. 162 [repealed];
(4) Bonds issued by a county, city, incorporated town, or improvement district of the State of Arkansas, whether the bonds are the general obligation of the issuer or are payable out of a special fund, as long as the bonds are negotiable instruments under the law;
(5) Bonds issued by a school district of the State of Arkansas;
(6)(A) Shares, share accounts, or accounts of any building and loan association organized under the laws of the State of Arkansas, of any federal savings and loan association domiciled in the State of Arkansas which are insured by the Savings Association Insurance Fund, or of any credit union in Arkansas, for their eligible members, which are insured by the National Credit Union Administration.
(B) However, no such investment shall exceed the amounts so insured.
(C) Provided, nothing herein shall be construed to expand the field of membership of any credit union;
(7) Notes, bonds, debentures, or other similar obligations issued by federal land banks, federal intermedi
Source: Arkansas Code — historical release 78 (November 6, 2020) · 28-65-311
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 28-65-311. This identifies an authority to review, not proof of applicability.