Arkansas Statutes
§ 28-69-206 — Deposit of funds - Collateral for uninsured deposit
Arkansas·Title 28
An Arkansas-chartered bank or savings and loan association that holds as trustee funds awaiting investment or distribution, if not prohibited by the instrument or judgment creating the trust, may deposit the funds in the commercial department of the bank or savings and loan association. However, if the amount of the deposit exceeds the Federal Deposit Insurance Corporation insurance coverage, the bank or savings and loan association shall pledge, as security for the payment of the deposit, bonds constituting general obligations of the United States or the State of Arkansas of a market value not less than the uninsured portion of the deposit.
Free access — add to your briefcase to read the full text and ask questions with AI
Arkansas § 28-69-206 (Deposit of funds - Collateral for uninsured deposit) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Act 2013, No. 1137,§ 3, eff. 8/16/2013. Acts 1981, No. 837, § 1; A.S.A. 1947, § 58-120.
Nearby Sections
15
§ 28-1-101
Title§ 28-1-102
Definitions§ 28-1-103
Effect of code§ 28-1-104
Probate proceedings§ 28-1-106
Referees and probate clerks§ 28-1-108
Records§ 28-1-109
Petition - Verification§ 28-1-110
Filing objections to petition§ 28-1-111
Guardians and attorneys ad litem§ 28-1-112
Notice - Service - Proof - Costs§ 28-1-113
Waiver of notice§ 28-1-115
Vacation and modification of orders§ 28-1-116
Appeals§ 28-1-117
Use of certified mail permitted§ 28-1-118
Deceased viable fetus