9-30-109. Children's Trust Fund.

Arkansas Code — all titles (historical 2020) · legal_authorities

9-30-109. Children's Trust Fund.

9-30-109. Children's Trust Fund. (a) There is created on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a special trust fund to be known as the “Children's Trust Fund”. (b) All county clerks in this state shall charge a fee of ten dollars ($10.00) in addition to all other fees prescribed by law for each marriage license issued, and the clerks shall transmit the ten-dollar fee to the Treasurer of State who shall deposit it into the trust fund as special revenues. (c)(1) Until the balance of the trust fund reaches ten million dollars ($10,000,000), not more than eighty percent (80%) of the money credited to the trust fund during any fiscal year shall be disbursed during that fiscal year. (2) When the balance in the trust fund reaches ten million dollars ($10,000,000), disbursements from the trust fund shall be limited to the amount in excess of ten million dollars ($10,000,000). (d) The Treasurer of State shall credit to the trust fund all moneys earned on the trust fund balance. (e) No more than twenty percent (20%) of the revenues derived from the marriage license fees during any fiscal year shall be used to cover the administrative costs of the trust fund. (f) The twenty-percent limitation does not apply to capital expenditures.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 9-30-109

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.