Arkansas § 24-9-206 Certificates of deposit

Arkansas Statutes

§ 24-9-206 — Certificates of deposit

Arkansas § 24-9-206

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This text of Arkansas § 24-9-206 (Certificates of deposit) 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. § 24-9-206 (2026).

Text

When a governing body of a trust shall decide to invest moneys belonging to the trust in certificates of deposit, the following conditions must be met:

(1)The certificate of deposit must be issued in the name of the trust;

(2)The certificate, when received, must be maintained at the office of the board of trustees or in the trust department of a firm normally engaged in providing trust services; and (3) Subsequent to the purchasing of a certificate of deposit, the board of trustees shall be required to request confirmation of the validity of the certificate directly from the issuing bank.

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When a governing body of a trust shall decide to invest moneys belonging to the trust in certificates of deposit, the following conditions must be met: (1) The certificate of deposit must be issued in the name of the trust; (2) The certificate, when received, must be maintained at the office of the board of trustees or in the trust department of a firm normally engaged in providing trust services; and (3) Subsequent to the purchasing of a certificate of deposit, the board of trustees shall be required to request confirmation of the validity of the certificate directly from the issuing bank.