Types of accounts for deposits
ArkansasStatutes
Ask Donna
How this section applies to your facts.
AR Code › Title 19 › Chapter 3 › Subchapter 5 › Section 19-3-510
Text
(a) (1) Funds from the State Treasury deposited into a bank depository or an investment depository shall be credited to accounts in the name of the Treasurer of State. (2) Except as provided in § 19-3-512 , the Treasurer of State may establish accounts as demand deposit accounts, certificates of deposit, or other accounts. (b) The certificate of deposit account in a bank depository or an investment depository shall consist of funds from the State Treasury deposited under the State Treasury Certificate of Deposit Investment Program and trust funds deposited for various trust funds. (c) The demand deposit account in a bank depository or an investment depository shall consist of: (1) All federal funds, as described in § 19-7-101 et seq.; (2) Trust funds to the extent that the trust funds are not invested in securities and certificates of deposit; and (3) State funds to the extent that the state funds are not invested in securities. (d) Funds from the State Treasury shall not be deposited into a bank depository or an investment depository except under the terms of a written agreement entered into between the Treasurer of State and the bank depository or investment depository that complies with applicable state law and rules and federal law, rules, and regulations. Amended by Act 2019, No. 315,§ 1705, eff. 7/24/2019. Amended by Act 2013, No. 1088,§ 2, eff. 8/16/2013. Acts 1997, No. 847, § 1; 2009, No. 251, § 5.
(a) (1) Funds from the State Treasury deposited into a bank depository or an investment depository shall be credited to accounts in the name of the Treasurer of State. (2) Except as provided in § 19-3-512 , the Treasurer of State may establish accounts as demand deposit accounts, certificates of deposit, or other accounts.
(1) Funds from the State Treasury deposited into a bank depository or an investment depository shall be credited to accounts in the name of the Treasurer of State.
(2) Except as provided in § 19-3-512 , the Treasurer of State may establish accounts as demand deposit accounts, certificates of deposit, or other accounts.
(b) The certificate of deposit account in a bank depository or an investment depository shall consist of funds from the State Treasury deposited under the State Treasury Certificate of Deposit Investment Program and trust funds deposited for various trust funds.
(c) The demand deposit account in a bank depository or an investment depository shall consist of: (1) All federal funds, as described in § 19-7-101 et seq.; (2) Trust funds to the extent that the trust funds are not invested in securities and certificates of deposit; and (3) State funds to the extent that the state funds are not invested in securities.
(1) All federal funds, as described in § 19-7-101 et seq.;
(2) Trust funds to the extent that the trust funds are not invested in securities and certificates of deposit; and
(3) State funds to the extent that the state funds are not invested in securities.
(d) Funds from the State Treasury shall not be deposited into a bank depository or an investment depository except under the terms of a written agreement entered into between the Treasurer of State and the bank depository or investment depository that complies with applicable state law and rules and federal law, rules, and regulations.
Amended by Act 2019, No. 315,§ 1705, eff. 7/24/2019.
Amended by Act 2013, No. 1088,§ 2, eff. 8/16/2013.
Acts 1997, No. 847, § 1; 2009, No. 251, § 5.
This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.