Arkansas Statutes
§ 19-4-805 — Investment of fund balances
Arkansas·Title 19
(a)The state-supported institutions of higher education shall have the right to determine the depositories and the nature of investments of any of their cash funds which are not currently needed for operating purposes. In making these determinations, these institutions shall seek to obtain the highest possible rate of return for their investments.
(b)All cash fund agencies other than the state-supported institutions of higher education shall request and abide by the recommendations of the State Board of Finance as to the best investment decisions for any idle cash balances.
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Related
Opinion No.
(Arkansas Attorney General Reports, 2002)
Legislative History
Acts 1975, No. 5, §§ 8, 9; A.S.A. 1947, §§ 13-363, 13-364.
Nearby Sections
15
§ 19-1-201
Chief Fiscal Officer of the State§ 19-1-202
Secretary§ 19-1-203
Deputy director§ 19-1-204
Personnel§ 19-1-205
Office§ 19-1-206
Seal§ 19-1-207
General accounting system§ 19-1-208
Rules§ 19-1-209
Publications required§ 19-1-210
Recordkeeping§ 19-1-211
Investigations§ 19-1-212
Duty to avoid deficit§ 19-1-213
Leasing of state property§ 19-1-214
Federal gifts and surplusage