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28-71-104. Additional authority to invest funds.
Arkansas Code — all titles (historical 2020) · legal_authorities
28-71-104. Additional authority to invest funds.
(a) Unless prohibited by will, deed, trust, court order, or other instrument establishing the fiduciary relationship or unless another mode of investment is prescribed by any such instrument, trustees, guardians, and personal representatives, in addition to methods of investment now authorized by law, may invest all funds held in trust or for investment as provided in this chapter.
(b) In addition to other investments authorized by law for the investment of funds held by a fiduciary, or by the instrument governing the fiduciary relationship, and notwithstanding any other provision of law, a bank or trust company acting as a fiduciary, agent, or otherwise may, in the exercise of its investment discretion or at the direction of another person authorized to direct investment of funds held by a bank or trust company as fiduciary, invest and reinvest in the securities of an open-end or closed-end management investment company or investment trust registered under the Investment Company Act of 1940, 15 U.S.C. § 80a-1 et seq., as amended, so long as the portfolio of the investment company or investment trust consists substantially of investments not prohibited by the governing instrument.
(c) The fact that such a bank or trust company or an affiliate of the bank or trust company provides services to the investment company or investment trust such as that of an investment advisor, custodian, transfer agent, registrar, sponsor, distributor, manager, or otherwise and is receiving reasonable compensation for those services shall not preclude the bank or trust company from investing or reinvesting in the securities of the open-end or closed-end management investment trust registered under the Investment Company Act of 1940, 15 U
Source: Arkansas Code — historical release 78 (November 6, 2020) · 28-71-104
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:28-71-104
Source file: gov.ar.code.title.28.odt
Pages: Not recorded – Not recorded
Passage SHA-256: f500727dfddd3768530ddd3b0fa9167d4626c28d5e5cdd47df692ca2a6897096
Source location: content.xml paragraph 12162
Stored source content
28-71-104. Additional authority to invest funds.
(a) Unless prohibited by will, deed, trust, court order, or other instrument establishing the fiduciary relationship or unless another mode of investment is prescribed by any such instrument, trustees, guardians, and personal representatives, in addition to methods of investment now authorized by law, may invest all funds held in trust or for investment as provided in this chapter.
(b) In addition to other investments authorized by law for the investment of funds held by a fiduciary, or by the instrument governing the fiduciary relationship, and notwithstanding any other provision of law, a bank or trust company acting as a fiduciary, agent, or otherwise may, in the exercise of its investment discretion or at the direction of another person authorized to direct investment of funds held by a bank or trust company as fiduciary, invest and reinvest in the securities of an open-end or closed-end management investment company or investment trust registered under the Investment Company Act of 1940, 15 U.S.C. § 80a-1 et seq., as amended, so long as the portfolio of the investment company or investment trust consists substantially of investments not prohibited by the governing instrument.
(c) The fact that such a bank or trust company or an affiliate of the bank or trust company provides services to the investment company or investment trust such as that of an investment advisor, custodian, transfer agent, registrar, sponsor, distributor, manager, or otherwise and is receiving reasonable compensation for those services shall not preclude the bank or trust company from investing or reinvesting in the securities of the open-end or closed-end management investment trust registered under the Investment Company Act of 1940, 15 U.S.C. § 80a-1 et seq., as amended.
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Federal law — U.S. Code and appendices · legal_authorities
Page 504
TITLE 15—COMMERCE AND TRADE
§ 80a–1
1 See References in Text note below.
regulations approved and made effective prior to such
date, see section 1274 of Pub. L. 109–58, set out as an Ef-
fective Date note under section 16451 of Title 42, The
Public Health and Welfare.
CHAPTER 2D—INVESTMENT COMPANIES
AND ADVISERS
SUBCHAPTER I—INVESTMENT COMPANIES
Sec.
80a–1.
Findings and declaration of policy.
80a–2.
Definitions; applicability; rulemaking consid-
erations.
80a–3.
Definition of investment company.
80a–3a.
Protection of philanthropy under State law.
80a–4.
Classification of investment companies.
80a–5.
Subclassification of management companies.
80a–6.
Exemptions.
80a–7.
Transactions
by
unregistered
investment
companies.
80a–8.
Registration of investment companies.
80a–9.
Ineligibility of certain affiliated persons and
underwriters.
80a–10.
Affiliations or interest of directors, officers,
and employees.
80a–11.
Offers to exchange securities.
80a–12.
Functions and activities of investment com-
panies.
80a–13.
Changes in investment policy.
80a–14.
Size of investment companies.
80a–15.
Contracts of advisers and underwriters.
80a–16.
Board of directors.
80a–17.
Transactions of certain affiliated persons and
underwriters.
80a–18.
Capital structure of investment companies.
80a–19.
Payments or distributions.
80a–20.
Proxies; voting trusts; circular ownership.
80a–21.
Loans by management companies.
80a–22.
Distribution, redemption, and repurchase of
securities; regulations by securities asso-
ciations.
80a–23.
Closed-end companies.
80a–24.
Registration of securities under Securities
Act of 1933.
80a–25.
Reorganization plans; reports by Commission.
80a–26.
Unit investment trusts.
80a–27.
Periodic payment
Source: Supplied 2024 U.S. Code historical extraction · 15 U.S.C. § 80a-1
Stored review status: historical_2024_not_currentness_verified. The source passage cites 15 U.S.C. § 80a-1. This identifies an authority to review, not proof of applicability.