Ark. Code Ann. § 19-3-520
This is the official text of Ark. Code Ann. § 19-3-520, 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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Minimum balance to be maintained
Official statutory text
Since it is the intent of the General Assembly that the State Treasury have sufficient cash available at all times to redeem all state warrants presented for payment, the State Board of Finance shall immediately sell securities in the manner prescribed in § 19-3-518(b) when the cash balance maintained on demand deposit in bank depositories falls below the amount necessary to meet operating requirements, excluding trust funds. Amended by Act 2013, No. 1088,§ 2, eff. 8/16/2013. Acts 1997, No. 847, § 1.
Since it is the intent of the General Assembly that the State Treasury have sufficient cash available at all times to redeem all state warrants presented for payment, the State Board of Finance shall immediately sell securities in the manner prescribed in § 19-3-518(b) when the cash balance maintained on demand deposit in bank depositories falls below the amount necessary to meet operating requirements, excluding trust funds.
Amended by Act 2013, No. 1088,§ 2, eff. 8/16/2013.
Acts 1997, No. 847, § 1.
Since it is the intent of the General Assembly that the State Treasury have sufficient cash available at all times to redeem all state warrants presented for payment, the State Board of Finance shall immediately sell securities in the manner prescribed in § 19-3-518(b) when the cash balance maintained on demand deposit in bank depositories falls below the amount necessary to meet operating requirements, excluding trust funds.
Amended by Act 2013, No. 1088,§ 2, eff. 8/16/2013.
Acts 1997, No. 847, § 1.
Status: in_force
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