§ 17-90-205 - Disposition of funds -- Secretary-treasurer's bond. - Arkansas Statutes

17-90-205. Disposition of funds -- Secretary-treasurer's bond.

(a) All renewal fees and all examination and application fees shall be used by the State Board of Optometry to pay its expenses in administering this chapter.

(b) (1) All moneys received by the board shall be disbursed by the Secretary-treasurer of the State Board of Optometry, who shall furnish surety bond.

(2) The secretary-treasurer shall keep a true and faithful account of all moneys received and all moneys expended and shall file annually with the Governor a report of all financial transactions duly audited by an independent accountant.

(c) All moneys not expended or used by the board to pay expenses in administering this chapter shall be retained by the board from year to year to be expended for the purposes and intentions expressed in this chapter.

(d) The secretary-treasurer shall execute a bond for the state in a sum to be fixed by the board conditioned on the faithful performance of the duties of his or her office.