Arkansas Statutes
§ 24-12-202 — Authority to employ investment advisor - Investment policy
Arkansas·Title 24
(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policy, provided that the governing body of the city declares such services professional services under § 19-11-806 [repealed], and subject to the terms, conditions, limitations, and restrictions imposed by law upon investments of state retirement systems as set forth in §§ 24-2-610 -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.
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Arkansas § 24-12-202 (Authority to employ investment advisor - Investment policy) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Acts 1999, No. 50, § 2; 1999, No. 332, § 2.
Nearby Sections
15
§ 24-1-101
Assets and income for retirement systems§ 24-1-102
Annual valuation§ 24-1-103
Change of contribution rate§ 24-1-105
Liabilities exceeding thirty-year amortization period - Legislated benefit enhancement prohibited§ 24-1-106
Benefit enhancements§ 24-1-201
Declaration of policy§ 24-1-202
Definitions§ 24-1-203
Rules§ 24-1-206
Agents§ 24-1-207
Contributions - State employees