(a) There is created on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a trust fund to be known as the “Unclaimed Property Interest Trust Fund”.
(b) The Unclaimed Property Interest Trust Fund shall consist of:(1) Interest earned from the investment of funds in the Unclaimed Property Proceeds Trust Fund and the Abandoned Mineral Proceeds Trust Fund under § § 19-3-403(4);(2) Any remaining fund balances carried forward from year to year; and(3) Any other funds authorized or provided by law.
(1) Interest earned from the investment of funds in the Unclaimed Property Proceeds Trust Fund and the Abandoned Mineral Proceeds Trust Fund under § § 19-3-403(4);
(2) Any remaining fund balances carried forward from year to year; and
(3) Any other funds authorized or provided by law.
(c) The Unclaimed Property Interest Trust Fund shall be used by the Auditor of State as follows, in order of priority as the amount in the Unclaimed Property Interest Trust Fund permits:(1) First, the amount necessary to reimburse the State Central Services Fund, or its successor fund or fund account, under § 18-28-213(b) shall be transferred to the State Central Services Fund, or its successor fund or fund account; and(2) Second, the amount necessary to reimburse the Unclaimed Property Proceeds Trust Fund for any liabilities incurred during previous fiscal years in which the amount in the Unclaimed Property Interest Trust Fund was insufficient to reimburse the State Central Services Fund, or its successor fund or fund account, under subdivision (c)(1) of this section shall be transferred to the Unclaimed Property Proceeds Trust Fund.
(1) First, the amount necessary to reimburse the State Central Services Fund, or its successor fund or fund account, under § 18-28-213(b) shall be transferred to the State Central Services Fund, or its successor fund or fund account; and
(2) Second, the amount necessary to reimburse the Unclaimed Property Proceeds Trust Fund for any liabilities incurred during previous fiscal years in which the amount in the Unclaimed Property Interest Trust Fund was insufficient to reimburse the State Central Services Fund, or its successor fund or fund account, under subdivision (c)(1) of this section shall be transferred to the Unclaimed Property Proceeds Trust Fund.
(d) Moneys remaining in the Unclaimed Property Interest Trust Fund at the end of each fiscal year shall carry forward and be made available for the purposes stated in this section in the next fiscal year.
(e) The Auditor of State shall maintain accounting and other records necessary to ensure compliance with this section and shall provide any records maintained under this section to Arkansas Legislative Audit upon request.