Arkansas Statutes
§ 24-9-207 — Registered securities
Arkansas·Title 24
(a)(1) When the governing body of a trust decides to invest trust moneys in registered securities, all the securities purchased shall be issued in the name of the trust with at least the signatures of two (2) members of the board required for renegotiation of the securities.
(2)One (1) signature shall be that of the board treasurer and the other that of the chair of the board.
(b)The securities are to be maintained in the office of the board of trustees or the trust department of a commercial firm normally engaged in providing trust services.
(c)(1) Subsequent to the purchase of the securities, the board of trustees shall request confirmation directly from the issuing company of the registration of the securities. The confirmation shall be made by the board independently of the agent t
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Legislative History
Acts 1973, No. 282, § 6; A.S.A. 1947, § 13-2106.
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