Arkansas § 24-12-202 Authority to employ investment advisor - Investment policy

Arkansas Statutes

§ 24-12-202 — Authority to employ investment advisor - Investment policy

Arkansas § 24-12-202

Title24

This text of Arkansas § 24-12-202 (Authority to employ investment advisor - Investment policy) 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. § 24-12-202 (2026).

Text

(a)A board of trustees of a city nonuniformed employees' pension plan with assets in excess of one hundred thousand dollars ($100,000) may employ an investment advisor as its agent to make investment recommendations and to invest the assets pursuant to a written board investment policy, provided that the governing body of the city declares such services professional services under § 19-11-806 [repealed], and subject to the terms, conditions, limitations, and restrictions imposed by law upon investments of state retirement systems as set forth in §§ 24-2-610 - 24-2-619 .

(b)The investment policy shall not limit the investments to interest-bearing bonds.

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

(a) A board of trustees of a city nonuniformed employees' pension plan with assets in excess of one hundred thousand dollars ($100,000) may employ an investment advisor as its agent to make investment recommendations and to invest the assets pursuant to a written board investment policy, provided that the governing body of the city declares such services professional services under § 19-11-806 [repealed], and subject to the terms, conditions, limitations, and restrictions imposed by law upon investments of state retirement systems as set forth in §§ 24-2-610 - 24-2-619 . (b) The investment policy shall not limit the investments to interest-bearing bonds.