§ 19-3-520 - Minimum balance to be maintained. - Arkansas Statutes

19-3-520. Minimum balance to be maintained.

Since it is the intent of the General Assembly of the State of Arkansas that the Treasurer of State have sufficient cash available at all times to redeem any and all state warrants presented for payment, the State Board of Finance is authorized and directed to immediately sell securities in the manner prescribed in 19-3-518(b) whenever the cash balance maintained on demand deposit in bank depositories falls below the amount necessary to meet operating requirements, excluding trust funds.