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Arkansas Code Title 19. Public Finance § 19-5-1127. Military Family Relief Trust Fund

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

(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 “Military Family Relief Trust Fund”.

(b)(1) All moneys collected under § 26-51-2506 shall be deposited into the State Treasury to the credit of the fund.

(2) The fund shall also consist of any other revenues authorized by law.

(c) The fund shall be used exclusively by the Adjutant General or his or her designee to assist members and families of members of the Arkansas National Guard and reserve components of the armed forces.

(d) The Treasurer of State shall credit to the fund the amount certified each quarter in accordance with § 26-51-2506.

(e)(1) The moneys credited to the fund shall be held as trust funds in interest-bearing accounts only.

(2) All interest earned shall be credited to the fund and shall be used only for the purposes of the fund.

(f) All moneys deposited into the fund, all interest earned on deposits, and the fund balance in the fund may be disbursed as appropriated in each fiscal year of the biennium for the Military Family Relief Check-off Program.

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Cite this article: FindLaw.com - Arkansas Code Title 19. Public Finance § 19-5-1127. Military Family Relief Trust Fund - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-19-public-finance/ar-code-sect-19-5-1127/

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