The deposit of State Treasury funds in accordance with §§ 19-3-307 — 19-3-317 relieves the Treasurer of State and the surety on the bond of the Treasurer of State of liability for the loss of the funds by reason of the default or insolvency of a bank depository.
Effect of proper deposits
Ark. Code Ann. § 19-3-317 — under STATE TREASURY MANAGEMENT.
Ark. Code Ann. § 19-3-317