Arkansas Statutes
§ 24-2-206 — Jurisdiction and custodianship of funds - Interest
Arkansas·Title 24
(a)(1) The various retirement system funds, as established in the State Treasury, are created and constituted trust funds.
(2)All assets of the various funds, both cash and securities, shall be under the exclusive jurisdiction of the respective boards of trustees and shall be held by the Treasurer of State as custodian, subject to the orders and direction of the boards of trustees.
(b)The interest received on all investments made from the trust funds shall be considered as trust fund income and shall be deposited into the State Treasury to the credit of the retirement system fund from which the investments were made.
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Arkansas § 24-2-206 (Jurisdiction and custodianship of funds - Interest) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Acts 1963, No. 509, § 6; A.S.A. 1947, § 12-2535.
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