# Ark. Code Ann. § 19-3-508: Deposits in ineligible institutions

> Arkansas · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_AR_T19_C3_S5_S19-3-508

## Section

- **Citation:** Ark. Code Ann. § 19-3-508
- **Heading:** Deposits in ineligible institutions
- **Jurisdiction:** Arkansas
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** AR Code / Title 19 / Chapter 3 / Subchapter 5 / Section 19-3-508

## Text

(a) The Treasurer of State shall not deposit State Treasury funds into an institution that is not eligible to be a bank depository under § 19-3-507 unless deposits in the institution are required to be made by other law or by resolution of a state board or commission duly adopted pursuant to the authority and requirement of other law. (b) The prohibition of subsection (a) of this section does not apply to funds payable from the State Treasury that are required by paying agents to meet debt service requirements of bond obligations incurred by law. Amended by Act 2013, No. 1088,§ 2, eff. 8/16/2013. Acts 1997, No. 847, § 1.

(a) The Treasurer of State shall not deposit State Treasury funds into an institution that is not eligible to be a bank depository under § 19-3-507 unless deposits in the institution are required to be made by other law or by resolution of a state board or commission duly adopted pursuant to the authority and requirement of other law.

(b) The prohibition of subsection (a) of this section does not apply to funds payable from the State Treasury that are required by paying agents to meet debt service requirements of bond obligations incurred by law.

Amended by Act 2013, No. 1088,§ 2, eff. 8/16/2013.

Acts 1997, No. 847, § 1.

## Nearby sections

- [Ark. Code Ann. § 19-3-501 Title](https://www.frixlaw.com/law-library/statutes/STATE_AR_T19_C3_S5_S19-3-501.md)
- [Ark. Code Ann. § 19-3-502 Definitions](https://www.frixlaw.com/law-library/statutes/STATE_AR_T19_C3_S5_S19-3-502.md)
- [Ark. Code Ann. § 19-3-503 State Treasury accounts](https://www.frixlaw.com/law-library/statutes/STATE_AR_T19_C3_S5_S19-3-503.md)
- [Ark. Code Ann. § 19-3-504 Record and report of financial transactions](https://www.frixlaw.com/law-library/statutes/STATE_AR_T19_C3_S5_S19-3-504.md)
- [Ark. Code Ann. § 19-3-505 Disposition of moneys received by Treasurer of State](https://www.frixlaw.com/law-library/statutes/STATE_AR_T19_C3_S5_S19-3-505.md)
- [Ark. Code Ann. § 19-3-506 Custodian of moneys and securities - Internal controls - Annual audit](https://www.frixlaw.com/law-library/statutes/STATE_AR_T19_C3_S5_S19-3-506.md)
- [Ark. Code Ann. § 19-3-507 Bank depositories generally](https://www.frixlaw.com/law-library/statutes/STATE_AR_T19_C3_S5_S19-3-507.md)
- [Ark. Code Ann. § 19-3-508 Deposits in ineligible institutions](https://www.frixlaw.com/law-library/statutes/STATE_AR_T19_C3_S5_S19-3-508.md)
- [Ark. Code Ann. § 19-3-509 Maximum amount of deposits and investments - Protection of State Treasury funds](https://www.frixlaw.com/law-library/statutes/STATE_AR_T19_C3_S5_S19-3-509.md)
- [Ark. Code Ann. § 19-3-510 Types of accounts for deposits](https://www.frixlaw.com/law-library/statutes/STATE_AR_T19_C3_S5_S19-3-510.md)
- [Ark. Code Ann. § 19-3-511 Term of deposit - Interest](https://www.frixlaw.com/law-library/statutes/STATE_AR_T19_C3_S5_S19-3-511.md)
- [Ark. Code Ann. § 19-3-512 Estimate and investment of funds not needed for immediate cash requirements](https://www.frixlaw.com/law-library/statutes/STATE_AR_T19_C3_S5_S19-3-512.md)
- [Ark. Code Ann. § 19-3-513 Interest income on deposits](https://www.frixlaw.com/law-library/statutes/STATE_AR_T19_C3_S5_S19-3-513.md)
- [Ark. Code Ann. § 19-3-514 List of deposits](https://www.frixlaw.com/law-library/statutes/STATE_AR_T19_C3_S5_S19-3-514.md)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_AR_T19_C3_S5_S19-3-508. Check the current official text before relying on it. Not legal advice.