LegalFix

§ 27-70-204. Interest on funds of Arkansas Department of Transportation.

AR Code § 27-70-204 (2018) (N/A)
Copy with citation
Copy as parenthetical citation

(a) On the second business day that the State Treasury is open after the twenty-fifth day of the month, the Treasurer of State shall compute the balance of the State Highway and Transportation Department Fund, including all internal accounts and funds, including, but not limited to, the State Highway Special Construction Account, the State Aid Road Fund, the State Aid Street Fund, the State Highway and Transportation Department Fund, and any other funds administered by the Arkansas Department of Transportation during the preceding month and shall transfer on that day to the State Highway and Transportation Department Fund interest on the balance to be computed as authorized under § 19-3-518(d)(4), excluding the interest rate paid on open account deposits, during the preceding month.

(b) All interest earned on the accounts described in subsection (a) of this section shall be classified as special revenues, and the net amount shall be distributed as provided by this subchapter.

LegalFix

Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.

LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.

The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.

You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.

The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.

Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.

We have updated our Terms of Service, Privacy Policy, and Disclosures. By continuing to browse this site, you agree to our Terms of Service, Privacy Policy, and Disclosures.
§ 27-70-204. Interest on funds of Arkansas Department of Transportation.