§ 17-31-208 - Disposition of funds. - Arkansas Statutes

17-31-208. Disposition of funds.

(a) (1) The Secretary of the Arkansas State Board of Registration for Foresters shall receive, disburse, and account for all income paid to or received by the Arkansas State Board of Registration for Foresters.

(2) The secretary shall institute a system of books and financial records satisfactory to the Director of the Department of Finance and Administration.

(3) (A) The secretary shall open an account in a bank in this state designated by the board as its official depository.

(B) The secretary and one (1) other officer of the board shall both sign all checks disbursing funds of the board.

(C) The secretary shall deposit all funds of the board which he or she receives into the bank designated as the official depository within forty-eight (48) hours, excluding holidays and Sundays, after he or she receives the funds.

(b) All fines collected for the violation of any provisions of this chapter shall be paid over to the board to be used by it in the same manner as funds received for the issuance of licenses.

(c) Under no circumstances shall the total amount of warrants issued by the board in payment of the expenses and compensation provided for in this chapter exceed the amount of the application, registration, and other fees collected as herein provided.

(d) Any surplus funds at the end of the fiscal year may be retained by the board for future expenditures, and the board shall not be required to pay any surplus into the General Revenue Fund Account of the State Apportionment Fund.