Arkansas § 14-123-315 Interest on deposits

Arkansas Statutes

§ 14-123-315 — Interest on deposits

Arkansas § 14-123-315

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This text of Arkansas § 14-123-315 (Interest on deposits) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 14-123-315 (2026).

Text

The rate of depository interest to be paid by the depositories selected in accordance with § 14-123-314 and by those depositories selected in accordance with existing laws shall be such as, in the opinion of the board of directors or commissioners, is consistent with the security given and for the best interests of the district. However, if the board is unable to secure any interest on its deposits, then it is authorized to make such deposits without interest.

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The rate of depository interest to be paid by the depositories selected in accordance with § 14-123-314 and by those depositories selected in accordance with existing laws shall be such as, in the opinion of the board of directors or commissioners, is consistent with the security given and for the best interests of the district. However, if the board is unable to secure any interest on its deposits, then it is authorized to make such deposits without interest.