(a) The Treasurer of State shall have the power to enter into a contract or agreement with any state or national bank having a trust department located in Arkansas for the custodial care and servicing of any securities deposited with him or her pursuant to this subchapter.
(b) The services shall consist of the safekeeping of the securities and of all services required to effectuate the purposes of this subchapter.
(c) The Treasurer of State shall collect all interest or income, when due, on the obligations so deposited and shall pay the interest or income, when and as collected, to the contractor who deposited the obligations.
(d) If the deposit is in the form of coupon bonds, the Treasurer of State shall deliver each coupon as it matures to the contractor.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
