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6-62-613. Bank funds.
Arkansas Code — all titles (historical 2020) · legal_authorities
6-62-613. Bank funds.
(a) All moneys received by a board as consideration for the transfer of property, whether in the form of payment of the principal of or interest on the purchase price for property sold, rent for property leased or in any other form, and all investment earnings thereon, are specifically declared to be bank funds.
(b) Such moneys shall not be deposited in the State Treasury but shall be deposited in accounts of the board in one (1) or more banks selected by the board.
(c)(1) Such moneys may be used for any lawful purpose specified by the board without the necessity of legislative authorization or voucher examination and approval under § 19-4-801 et seq.
(2) However, no part of the moneys shall ever be used to pay current operating expenses of the university other than in connection with the property for which such moneys were received.
(d) The board may invest and reinvest all or part of such moneys. Such investments and expenditures shall be subject to audit as provided by law.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-62-613
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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Stable record: arkansas_code:legal_authorities:6-62-613
Source file: gov.ar.code.title.06.odt
Pages: Not recorded – Not recorded
Passage SHA-256: cc79ea13514b6590381b905990332ececc2672a602e50824ca9b1a23b4817a36
Source location: content.xml paragraph 37745
Stored source content
6-62-613. Bank funds.
(a) All moneys received by a board as consideration for the transfer of property, whether in the form of payment of the principal of or interest on the purchase price for property sold, rent for property leased or in any other form, and all investment earnings thereon, are specifically declared to be bank funds.
(b) Such moneys shall not be deposited in the State Treasury but shall be deposited in accounts of the board in one (1) or more banks selected by the board.
(c)(1) Such moneys may be used for any lawful purpose specified by the board without the necessity of legislative authorization or voucher examination and approval under § 19-4-801 et seq.
(2) However, no part of the moneys shall ever be used to pay current operating expenses of the university other than in connection with the property for which such moneys were received.
(d) The board may invest and reinvest all or part of such moneys. Such investments and expenditures shall be subject to audit as provided by law.
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Arkansas Code — all titles (historical 2020) · legal_authorities
19-4-801. Definitions.
As used in this subchapter:
(1) “Cash funds” means all moneys, negotiable instruments, certificates of indebtedness, stocks, and bonds held by or owned by any state agency which are not on deposit with or in the trust of the Treasurer of State; and
(2)(A) “State agency” means all boards, commissions, departments, agencies, institutions, offices or officers, state-supported institutions of higher education, and any other office or unit of government of the State of Arkansas created or established pursuant to law or pursuant to any action of the Governor, functioning under appropriation made by the General Assembly or functioning as a representative of the state without appropriation of the General Assembly.
(B) “State agency” shall not include the:
(i) Governor;
(ii) Secretary of State;
(iii) Attorney General;
(iv) Treasurer of State;
(v) Auditor of State;
(vi) Commissioner of State Lands;
(vii) Supreme Court and its justices;
(viii) Circuit courts and circuit judges;
(ix) Prosecuting attorneys;
(x) Arkansas State Game and Fish Commission;
(xi) Arkansas Department of Transportation;
(xii)(a) Office of the Arkansas Lottery.
(b) However, the office shall be considered a state agency for the purposes of § 19-4-810 et seq.;
(xiii) General Assembly; and
(xiv) Respective staffs of the officers and agencies listed in this subdivision (2)(B).
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-4-801
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 19-4-801. This identifies an authority to review, not proof of applicability.