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Arkansas Code Title 19. Public Finance § 19-3-505. Disposition of moneys received by Treasurer of State

Current as of March 28, 2024 | Updated by Findlaw Staff

(a)(1) The Treasurer of State shall issue receipts to depositors of moneys into the State Treasury.

(2) On the day of receipt or as soon as practical, the moneys shall be credited to the appropriate fund as provided by law.

(b)(1) After credit to the appropriate funds, the moneys shall be:

(A) Commingled with all other moneys in the State Treasury; and

(B) Deposited into bank depositories to the credit of the account of the Treasurer of State or invested as prescribed in this subchapter.

(2) This subsection does not prohibit the Treasurer of State from keeping cash of the State Treasury in the Treasurer of State's office in reasonable amounts necessary for the transaction of the day-to-day business of the office with persons and firms other than bank depositories.

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Cite this article: FindLaw.com - Arkansas Code Title 19. Public Finance § 19-3-505. Disposition of moneys received by Treasurer of State - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-19-public-finance/ar-code-sect-19-3-505/

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