Ark. Code Ann. § 19-1-501
This is the official text of Ark. Code Ann. § 19-1-501, part of Arkansas’s Code Ann — part of the compiled statutory law of Arkansas, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
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"Eligible investment securities" defined
Official statutory text
As used in this subchapter, "eligible investment securities" means: (1) A direct or guaranteed obligation of the United States that is backed by the full faith and credit of the United States Government; (2) A direct obligation of an agency, instrumentality, or government-sponsored enterprise created by act of the United States Congress and authorized to issue securities or evidences of indebtedness, regardless of whether the securities or evidences of indebtedness are guaranteed for repayment by the United States Government; (3) A bond or other debt of the state, a school district, a county government, a municipal government, or an authority of a governmental entity that: (A) Is issued for an essential governmental purpose or is guaranteed by a state agency; and (B) Has a debt rating from a nationally recognized credit rating agency of "A" or better at the time of purchase; and (4) A bond from the State of Israel that is guaranteed and backed by the full faith and credit of the government of Israel as the sovereign debt of the State of Israel. Amended by Act 2017, No. 644,§ 1, eff. 8/1/2017. Acts 1943, No. 273, § 2; 1973, No. 106, § 2; A.S.A. 1947, § 13-902; Acts 2011, No. 629, § 1.
As used in this subchapter, "eligible investment securities" means:
(1) A direct or guaranteed obligation of the United States that is backed by the full faith and credit of the United States Government;
(2) A direct obligation of an agency, instrumentality, or government-sponsored enterprise created by act of the United States Congress and authorized to issue securities or evidences of indebtedness, regardless of whether the securities or evidences of indebtedness are guaranteed for repayment by the United States Government;
(3) A bond or other debt of the state, a school district, a county government, a municipal government, or an authority of a governmental entity that: (A) Is issued for an essential governmental purpose or is guaranteed by a state agency; and (B) Has a debt rating from a nationally recognized credit rating agency of "A" or better at the time of purchase; and
(A) Is issued for an essential governmental purpose or is guaranteed by a state agency; and
(B) Has a debt rating from a nationally recognized credit rating agency of "A" or better at the time of purchase; and
(4) A bond from the State of Israel that is guaranteed and backed by the full faith and credit of the government of Israel as the sovereign debt of the State of Israel.
Amended by Act 2017, No. 644,§ 1, eff. 8/1/2017.
Acts 1943, No. 273, § 2; 1973, No. 106, § 2; A.S.A. 1947, § 13-902; Acts 2011, No. 629, § 1.
As used in this subchapter, "eligible investment securities" means:
(1) A direct or guaranteed obligation of the United States that is backed by the full faith and credit of the United States Government;
(2) A direct obligation of an agency, instrumentality, or government-sponsored enterprise created by act of the United States Congress and authorized to issue securities or evidences of indebtedness, regardless of whether the securities or evidences of indebtedness are guaranteed for repayment by the United States Government;
(3) A bond or other debt of the state, a school district, a county government, a municipal government, or an authority of a governmental entity that: (A) Is issued for an essential governmental purpose or is guaranteed by a state agency; and (B) Has a debt rating from a nationally recognized credit rating agency of "A" or better at the time of purchase; and
(A) Is issued for an essential governmental purpose or is guaranteed by a state agency; and
(B) Has a debt rating from a nationally recognized credit rating agency of "A" or better at the time of purchase; and
(4) A bond from the State of Israel that is guaranteed and backed by the full faith and credit of the government of Israel as the sovereign debt of the State of Israel.
Amended by Act 2017, No. 644,§ 1, eff. 8/1/2017.
Acts 1943, No. 273, § 2; 1973, No. 106, § 2; A.S.A. 1947, § 13-902; Acts 2011, No. 629, § 1.
Status: in_force
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