Ark. Code Ann. § 14-125-310: Surety bonds, records of proceedings, and audits

The directors shall provide for:

(1) The execution of surety bonds for all employees and officers who shall be entrusted with funds or property;

(2) The keeping of a full and accurate record of all proceedings and of all resolutions, regulations, and orders issued or adopted; and

(3) An annual audit of the accounts of receipts and disbursements.