Arkansas § 6-62-613 - Bank funds.
Full text of Arkansas Arkansas Code of 1987 Annotated § 6-62-613 — Bank funds., with citation guidance and answers to common questions.
§ 6-62-613. Bank funds.
All moneys received by a board as consideration for the transfer of property, whether in the form of payment of the principal of or interest on the purchase price for property sold, rent for property leased or in any other form, and all investment earnings thereon, are specifically declared to be bank funds. Such moneys shall not be deposited in the State Treasury but shall be deposited in accounts of the board in one (1) or more banks selected by the board. Such moneys may be used for any lawful purpose specified by the board without the necessity of legislative authorization or voucher examination and approval under § 19-4-801 et seq. However, no part of the moneys shall ever be used to pay current operating expenses of the university other than in connection with the property for which such moneys were received. The board may invest and reinvest all or part of such moneys. Such investments and expenditures shall be subject to audit as provided by law.
Source: official Arkansas text · Last verified 2026-08-27
Frequently Asked Questions About Arkansas § 6-62-613
What does Arkansas Code of 1987 Annotated § 6-62-613 cover?
Section 6-62-613 ("Bank funds.") is part of the Arkansas Code of 1987 Annotated, the codified statutory law of Arkansas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arkansas § 6-62-613?
A common citation format is "Arkansas Code of 1987 Annotated § 6-62-613" (Arkansas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arkansas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arkansas official source linked on this page or consult a licensed Arkansas attorney.
How does Arkansas § 6-62-613 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arkansas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arkansas.