§ 28-66-113 - Investments. - Arkansas Statutes

28-66-113. Investments.

Every guardian shall invest the surplus funds of his ward's estate in such securities or property as authorized under the laws of this state but only upon prior order of the court; except that the funds may be invested without prior court authorization, in direct unconditional interest-bearing obligations of this state or of the United States and in obligations the interest and principal of which are unconditionally guaranteed by the United States. A signed duplicate or certified copy of the petition for authority to invest shall be furnished the proper office of the Veterans' Administration and notice of hearing thereon shall be given said office as provided in the case of hearing on a guardian's account. If the guardian of the estate is a state or national bank or trust company authorized by provisions of 28-69-201 -- 28-69-204 to establish and maintain common trust funds and if the guardian has established and be maintaining such a common trust fund, the guardian may invest the ward's fund in participations in such common trust funds, without prior order of the court.