2020 Arkansas Code
Title 22 - Public Property
Chapter 9 - Public Works
Subchapter 5 - Deposit of Securities
§ 22-9-505. Powers and duties of Treasurer of State

Universal Citation: AR Code § 22-9-505 (2020)
  1. (a) The Treasurer of State shall have the power to enter into a contract or agreement with any state or national bank having a trust department located in Arkansas for the custodial care and servicing of any securities deposited with him or her pursuant to this subchapter.

  2. (b) The services shall consist of the safekeeping of the securities and of all services required to effectuate the purposes of this subchapter.

  3. (c) The Treasurer of State shall collect all interest or income, when due, on the obligations so deposited and shall pay the interest or income, when and as collected, to the contractor who deposited the obligations.

  4. (d) If the deposit is in the form of coupon bonds, the Treasurer of State shall deliver each coupon as it matures to the contractor.

Disclaimer: These codes may not be the most recent version. Arkansas may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.