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34 chapters · 989 sections in this title.
Ark. Code Ann. § 19-5-101 Definitions
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(1) As used in this subchapter:(1) “Bank” or “banking institution” means a state bank, national bank, savings bank, savings association, thrift, or other financial institution authorized to do business and having a main office or branch office in this state, which is insured by t…
Ark. Code Ann. § 19-5-102 Legal funds
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The legal funds referred to in §§ 19-5-101 — 19-5-107 as being eligible for deposit in depositories shall include funds that may come into the hands of treasurers, collectors, commissioners, sheriffs, clerks, and receivers by reason of their official capacities as commissioners.
Ark. Code Ann. § 19-5-103 Penalties
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(a) (1) It is a felony, punishable by fine of not more than one thousand dollars ($1,000) or one (1) year in prison, or both, for an officer of a bank to accept for deposit more public funds in the aggregate than that amount designated by this section, § 19-5-101, § 19-5-102, and…
Ark. Code Ann. § 19-5-104 Investment of public funds
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(a) Except as provided in subsection (b) of this section, all public funds shall be deposited into banks located in the state. (b) A school district may seek a hardship waiver from the Legislative Joint Auditing Committee from this section and deposit public funds into an out-of-…