Arkansas Code Title 19, Chapter 8, Subchapter 3 - Local Government Joint Investment Trust Act

• § 19-8-301 - Title.
  This subchapter may be cited as the "Local Government Joint Investment Trust Act".
• § 19-8-302 - Purpose.
  The purpose of this subchapter is to permit local governments in Arkansas to join together to establish trusts for joint investment of moneys not...
• § 19-8-303 - Definitions.
  For purposes of this subchapter: (1) "Local government" shall mean: (A) Any city, county, school district, or community college district of this state; (B)...
• § 19-8-304 - Creation of Trusts.
  (a) Ten (10) or more local governments may create a trust under this subchapter by ordinance, resolution, or otherwise pursuant to law of their...
• § 19-8-305 - Terms of Trust Agreement.
  (a) Each trust agreement shall specify the following: (1) Its duration; (2) (A) The number, qualifications, method of election, and terms of the trustees...
• § 19-8-306 - Filing of Trust Agreement and Supplements Thereto.
  No trust agreement or supplement to a trust agreement shall be effective until it is filed with the Secretary of State.
• § 19-8-307 - Common Trust Funds -- Individual Investment Accounts.
  (a) Each trust created pursuant to this subchapter shall establish one (1) or more common trust funds. Moneys held for the credit of a...
• § 19-8-308 - Authorized Common Trust Fund Investments.
  A trust created under this subchapter may invest moneys held for the credit of a common trust fund in the same manner as cities...
• § 19-8-309 - Power to Own Property and Contract.
  (a) A trust created under this subchapter shall, subject to any limitations in the trust agreement, have power to own real and personal property...
• § 19-8-310 - Records.
  (a) Each trust shall cause proper books of account and records to be kept in which complete and correct entries shall be made of...
• § 19-8-311 - Direct Deposits by the State of Arkansas Into Local Government Cash Management Trust Account.
  (a) Notwithstanding any other provision of law, the following funds remitted to municipalities by the State of Arkansas may be deposited directly into a...

Last modified: November 15, 2016