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2017 Arkansas Code
Title 14 - Local Government
Subtitle 10 - Economic Development and Tourism Generally
Chapter 169 - Housing Authorities and Urban Renewal Agencies
Subchapter 2 - Housing Authorities in Cities and Counties
§ 14-169-239. Security for funds deposited
Universal Citation: AR Code § 14-169-239 (2017)
- (a) A housing authority, by resolution, may provide that all moneys deposited by it shall be secured by:
- (1) Obligations of the United States or of the state, of a market value equal at all times to the amount of the deposits; or
- (2) Any securities in which savings banks may legally invest funds within their control; or
- (3) An undertaking, with such sureties as shall be approved by the authority, faithfully to keep and pay over upon the order of the authority any such deposits and agreed interest on them.
- (b) All banks and trust companies are authorized to give any such security for the deposits.
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