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Arkansas Code Title 24. Retirement and Pensions § 24-2-603. Investment authority and limitations--Default setoff

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

(a) In the event of default in payment of the principal or interest of any investment obligation held by any state retirement system where the issuer of the obligation receives moneys from the state, the default shall be certified by the board of the respective system to the Treasurer of State.

(b) The Treasurer of State shall withhold all moneys due the issuer from the state until the default, together with regular interest thereon, is satisfied.

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Cite this article: FindLaw.com - Arkansas Code Title 24. Retirement and Pensions § 24-2-603. Investment authority and limitations--Default setoff - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-24-retirement-and-pensions/ar-code-sect-24-2-603/

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