Arkansas § 23-68-114 Disposition of funds held pursuant to section 23-68-113

Arkansas Statutes

§ 23-68-114 — Disposition of funds held pursuant to section 23-68-113

Arkansas § 23-68-114

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This text of Arkansas § 23-68-114 (Disposition of funds held pursuant to section 23-68-113) 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. § 23-68-114 (2026).

Text

(a)(1) The Liquidation Division of the State Insurance Department is authorized to deposit funds now held pursuant to the provisions of § 23-68-113 , and the Pulaski County Circuit Court, into one (1) or more accounts, in one (1) or more state or national banks, savings banks, savings and loan associations, or trust companies.

(2)These funds may be combined to yield the highest rate of return on the deposits, or in any other way to facilitate the efficient operation of the division and the respective receiverships under the jurisdiction of the division.

(3)These funds may be used for the purpose of operating the division and the respective receiverships that may, from time to time, fall under its jurisdiction, and for no other purpose.

(b)The funds referred to in subsection (a) of this

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(a) (1) The Liquidation Division of the State Insurance Department is authorized to deposit funds now held pursuant to the provisions of § 23-68-113 , and the Pulaski County Circuit Court, into one (1) or more accounts, in one (1) or more state or national banks, savings banks, savings and loan associations, or trust companies. (2) These funds may be combined to yield the highest rate of return on the deposits, or in any other way to facilitate the efficient operation of the division and the respective receiverships under the jurisdiction of the division. (3) These funds may be used for the purpose of operating the division and the respective receiverships that may, from time to time, fall under its jurisdiction, and for no other purpose. (b) The funds referred to in subsection (a) of this section shall come from the accounts now held by the division, composed of assets sequestered from domestic insurers, and shall in no way be commingled or combined with funds of the State of Arkansas.