§ 19-5-1010 - Property Sales Holding Fund. - Arkansas Statutes

19-5-1010. Property Sales Holding Fund.

(a) There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the Property Sales Holding Fund.

(b) This fund shall consist of the proceeds of property sold, transferred, or rented by the Marketing and Redistribution Section of the Department of Finance and Administration, as authorized by law, and such other funds as may be authorized by law.

(c) It shall be used for the expenditure of proceeds from sale or disposition of property by the benefiting state agency and for the maintenance, operation, and improvement of the section.