§ 19-3-506 - Custodian of various accounts. - Arkansas Statutes

19-3-506. Custodian of various accounts.

(a) The Treasurer of State shall be custodian of all securities at any time held in the Securities Account and, as custodian, shall be charged with their care. All such securities shall be recorded at cost.

(b) The Treasurer of State shall be custodian of all certificates of deposit which are at any time held in the Trust Deposit Account and, as custodian, shall be charged with their care. All certificates of deposit shall be recorded at cost and segregated under appropriate titles so as to reflect the total principal amount of the certificates at any time held for each of the several trust accounts.

(c) The Treasurer of State shall be custodian of all securities at any time held in the Safekeeping Account and, as custodian, shall be charged with their safekeeping. However, control of the disposition thereof shall be vested at all times, in the respective administrators of the several trust accounts for whom the securities are held. All such securities shall be recorded at their par value and segregated under appropriate titles so as to reflect the total principal amount of securities at any time held for each of the trust accounts.