§ 6-1-704 — Duties of Arkansas Financial Education Commission

The duties of the Arkansas Financial Education Commission include: (1) Appointing as temporary director of the commission, a member of the Section 529 Plan Review Committee, as described in § 6-84-105 , and if necessary, appointing a new and independent director of the commission; (2) Raising funds for financial literacy educational plans and programs, excluding a regulator who: (A) Is a member of the board of directors of the commission; and (B) Shall not directly or indirectly participate in the commission's fundraising activities; (3) (A) Managing and implementing financial literacy educational plans and programs. (B) A financial literacy education plan or program described in subdivision (3)(A) of this section includes without limitation financial literacy educational programs for elementary and secondary school students; (4) Providing education in all aspects of financial matters; (5) Creating a website to make financial resources available to all Arkansans that covers a wide range of financial topics; (6) Creating and providing awards to individuals and organizations that help improve financial literacy throughout the state; and (7) (A) Working with other state agencies in providing financial literacy education and topics to schools in the state. (B) The topics shall include: (i) Earning a livable income; (ii) Balancing a checkbook and bank account; (iii) Use of credit cards and managing debt; (iv) Saving for postsecondary education; (v) Retirement and long-term financial planning; and (vi) Investing.

Legislative History

Added by Act 2021, No. 1025,§ 1, eff. 7/28/2021.