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Arkansas Code Title 9. Family Law § 9-30-109. Children's 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 special trust fund to be known as the “Children's Trust Fund”.

(b) All county clerks in this state shall charge a fee of ten dollars ($10.00) in addition to all other fees prescribed by law for each marriage license issued, and the clerks shall transmit the ten-dollar fee to the Treasurer of State who shall deposit it into the trust fund as special revenues.

(c)(1) Until the balance of the trust fund reaches ten million dollars ($10,000,000), not more than eighty percent (80%) of the money credited to the trust fund during any fiscal year shall be disbursed during that fiscal year.

(2) When the balance in the trust fund reaches ten million dollars ($10,000,000), disbursements from the trust fund shall be limited to the amount in excess of ten million dollars ($10,000,000).

(d) The Treasurer of State shall credit to the trust fund all moneys earned on the trust fund balance.

(e) No more than twenty percent (20%) of the revenues derived from the marriage license fees during any fiscal year shall be used to cover the administrative costs of the trust fund.

(f) The twenty-percent limitation does not apply to capital expenditures.

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Cite this article: FindLaw.com - Arkansas Code Title 9. Family Law § 9-30-109. Children's Trust Fund - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-9-family-law/ar-code-sect-9-30-109/

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