§ 19-3-101 - State Board of Finance. - Arkansas Statutes

19-3-101. State Board of Finance.

(a) There is created and established at the seat of government of this state a State Board of Finance. The Governor, the Treasurer of State, the Auditor of State, the Bank Commissioner, and the Director of the Department of Finance and Administration shall constitute the members. The Governor shall be chair of the board, and the Treasurer of State shall be secretary of the board and its executive officer and disbursing agent.

(b) (1) The board shall have and be subject to all functions, powers, and duties as by law are conferred and imposed upon it.

(2) For the purpose of regulating its own procedure and carrying out its functions, the board shall have the power, from time to time, to make, amend, and enforce all necessary or desirable rules or regulations not inconsistent with law.

(c) (1) Meetings of the board shall be held upon the call of the Governor, or by any three (3) or more members on advance notice to each member, at such place in each instance as may suit the board's convenience.

(2) All meetings shall be open to the public, and complete records of the proceedings thereof shall be kept.

(3) A quorum for the transaction of business at any meeting shall consist of not less than three (3) members, and the affirmative vote of such number shall be requisite for the adoption of any motion or resolution.