Ark. Code Ann. § 24-2-603
This is the official text of Ark. Code Ann. § 24-2-603, 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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Investment authority and limitations - Default setoff
Official statutory text
(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. Acts 2001, No. 151, § 8.
(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.
Acts 2001, No. 151, § 8.
(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.
Acts 2001, No. 151, § 8.
Status: in_force
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