Learn About The Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of March 28, 2024 | Updated by Findlaw Staff
(a) There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the “Motor Vehicle Acquisition Revolving Fund”.
(b) The fund shall be used for the purpose of acquiring motor vehicles as authorized by §§ 22-8-201 -- 22-8-209.
(c) The fund shall be financed by:
(1) Its proportionate share of moneys made available from the allocation of general revenues as authorized by the Revenue Stabilization Law, § 19-5-101 et seq.;
(2) Moneys made available upon the disposal of used vehicles, which moneys shall be deposited to the credit of the Motor Vehicle Acquisition Revolving Fund rather than being deposited to the owing state agency's fund;
(3) Deposits of moneys from benefiting state agencies; and
(4) Transfers from other State Treasury funds and fund accounts of benefiting state agencies.
Cite this article: FindLaw.com - Arkansas Code Title 19. Public Finance § 19-5-1002. Motor Vehicle Acquisition Revolving Fund - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-19-public-finance/ar-code-sect-19-5-1002/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)