§ 2-35-308 - Disposition of funds. - Arkansas Statutes

2-35-308. Disposition of funds.

(a) The Director of the Department of Finance and Administration shall deposit all assessments and penalties collected pursuant to this subchapter in the State Treasury.

(b) (1) After deducting three percent (3%) for credit to the Constitutional and Officers Fund and the State Central Services Fund, the Treasurer of State shall credit the remainder to the Arkansas Beef Council Fund, which is created on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State.

(2) All funds so credited to the Arkansas Beef Council Fund shall be used in such manner as the council deems appropriate for:

(A) Arkansas beef promotion and research;

(B) The operation and maintenance of the council office; and

(C) Payment of expenses of the board members in accordance with 25-16-901 et seq.