Arkansas § 24-9-204 Employment of trust administrators

Arkansas Statutes

§ 24-9-204 — Employment of trust administrators

Arkansas § 24-9-204

Title24

This text of Arkansas § 24-9-204 (Employment of trust administrators) 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. § 24-9-204 (2026).

Text

(a)By board action, the board of trustees may employ a commercial firm normally engaged in providing trust services, if each employee of the trust department who handles the trust funds is covered by a good and sufficient fidelity bond, to act as the agent for the board of the trust for the purpose of maintaining and administering the fund and to provide such assistance or services as the board of the trust may reasonably require in the performance of its duties.

(b)The bank or firm so employed shall not have the authority to make any investment decision or any determination as to the eligibility of any person entitled to receive a pension or any other benefit from the fund, nor to make any determination as to the amount of any pension or benefit which any person may be entitled to recei

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(a) By board action, the board of trustees may employ a commercial firm normally engaged in providing trust services, if each employee of the trust department who handles the trust funds is covered by a good and sufficient fidelity bond, to act as the agent for the board of the trust for the purpose of maintaining and administering the fund and to provide such assistance or services as the board of the trust may reasonably require in the performance of its duties. (b) The bank or firm so employed shall not have the authority to make any investment decision or any determination as to the eligibility of any person entitled to receive a pension or any other benefit from the fund, nor to make any determination as to the amount of any pension or benefit which any person may be entitled to receive from the fund.