Arkansas § 25-10-121 Proceeds from the sale of land - Deposit in special trust fund

Arkansas Statutes

§ 25-10-121 — Proceeds from the sale of land - Deposit in special trust fund

Arkansas § 25-10-121

Title25

This text of Arkansas § 25-10-121 (Proceeds from the sale of land - Deposit in special trust fund) 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. § 25-10-121 (2026).

Text

(a)Pursuant to the process delineated in § 22-6-601 , in lieu of depositing the proceeds of the sale of lands in the fund from which the division or state agency is operated, a board of a state agency or a division within the Department of Human Services holding lands in its name may request, as a condition for sale of the lands, that the proceeds be deposited in a special trust fund to be created in the name of the board, state agency, or division on the books of the Treasurer of State, Auditor of State, and Chief Fiscal Officer of the State.

(b)Proceeds placed in the special trust fund shall be used solely for the maintenance and operation of the programs of the division, state agency, or board under whose name the lands were held.

(c)If the division, state agency, or board requests t

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(a) Pursuant to the process delineated in § 22-6-601 , in lieu of depositing the proceeds of the sale of lands in the fund from which the division or state agency is operated, a board of a state agency or a division within the Department of Human Services holding lands in its name may request, as a condition for sale of the lands, that the proceeds be deposited in a special trust fund to be created in the name of the board, state agency, or division on the books of the Treasurer of State, Auditor of State, and Chief Fiscal Officer of the State. (b) Proceeds placed in the special trust fund shall be used solely for the maintenance and operation of the programs of the division, state agency, or board under whose name the lands were held. (c) If the division, state agency, or board requests the proceeds to be deposited in a special trust fund, the creation of the trust fund and the transfer of the proceeds to the trust fund shall be subject to approval by the Governor as a condition for approval of the sale.