Arkansas § 19-8-304 Creation of trusts

Arkansas Statutes

§ 19-8-304 — Creation of trusts

Arkansas § 19-8-304

Title19

This text of Arkansas § 19-8-304 (Creation of trusts) 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. § 19-8-304 (2026).

Text

(a)Ten (10) or more local governments may create a trust under this subchapter by ordinance, resolution, or otherwise pursuant to law of their governing bodies to provide for the joint investment of moneys not currently needed by the local governments creating the trust and by other local governments that become parties to the trust.

(b)Each trust shall be created by trust agreement.

(c)Following the creation of a trust agreement, other local governments may become parties to the trust agreement with appropriate action taken by the local depository board, board of directors of a school district, or other authorized party responsible for decisions related to bank deposits and investments.

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Ten (10) or more local governments may create a trust under this subchapter by ordinance, resolution, or otherwise pursuant to law of their governing bodies to provide for the joint investment of moneys not currently needed by the local governments creating the trust and by other local governments that become parties to the trust. (b) Each trust shall be created by trust agreement. (c) Following the creation of a trust agreement, other local governments may become parties to the trust agreement with appropriate action taken by the local depository board, board of directors of a school district, or other authorized party responsible for decisions related to bank deposits and investments.