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Arkansas · Snapshot open-us-law v2026.08, retrieved 2026-09-17

Ark. Code Ann. § 24-7-806: Procedure for designation of companies to provide benefit contracts

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Where this section sits in the code
  1. AR Code
  2. Title 24
  3. Chapter 7
  4. Subchapter 8

(a) The board of each college or university, or the Arkansas Higher Education Coordinating Board, shall designate the companies from which contracts are to be purchased under the alternate retirement plan and shall approve the form and contents of the contracts. (b) In making the designation and giving the approval, the board or the Arkansas Higher Education Coordinating Board shall give due consideration to: (1) The nature and extent of the rights and benefits to be provided by the contracts for staff members and their beneficiaries; (2) The relation of the rights and benefits to the amount of contributions to be made pursuant to the provisions of this subchapter; (3) The suitability of the rights and benefits to the needs of the staff members and the interests of the college in the recruitment and retention of staff members; and (4) The ability of the designated company or companies to provide the suitable rights and benefits under the contracts. Amended by Act 2019, No. 910,§ 2375, eff. 7/1/2019. Acts 1967, No. 436, § 6; A.S.A. 1947, § 80-1462; Acts 1991, No. 511, § 4; 1993, No. 443, § 1.

(a) The board of each college or university, or the Arkansas Higher Education Coordinating Board, shall designate the companies from which contracts are to be purchased under the alternate retirement plan and shall approve the form and contents of the contracts.

(b) In making the designation and giving the approval, the board or the Arkansas Higher Education Coordinating Board shall give due consideration to: (1) The nature and extent of the rights and benefits to be provided by the contracts for staff members and their beneficiaries; (2) The relation of the rights and benefits to the amount of contributions to be made pursuant to the provisions of this subchapter; (3) The suitability of the rights and benefits to the needs of the staff members and the interests of the college in the recruitment and retention of staff members; and (4) The ability of the designated company or companies to provide the suitable rights and benefits under the contracts.

(1) The nature and extent of the rights and benefits to be provided by the contracts for staff members and their beneficiaries;

(2) The relation of the rights and benefits to the amount of contributions to be made pursuant to the provisions of this subchapter;

(3) The suitability of the rights and benefits to the needs of the staff members and the interests of the college in the recruitment and retention of staff members; and

(4) The ability of the designated company or companies to provide the suitable rights and benefits under the contracts.

Collected 2026-09-17T21:35:43Z. Source file · JSON

Compilation CC BY 4.0, Open US Law (Vaquill AI). GroundRules uses only the releases published under CC BY 4.0: from v2026.09 the compilation is licensed CC BY-NC 4.0, and GroundRules does not use those releases. Each affected row names its release in its vintage label. GroundRules parsed and filtered the compilation to retain enacted text. Source · License

Arkansas electronic product files were republished by Public.Resource.Org under a public-domain mark. GroundRules uses enacted text from Release 78 only as a labeled supplement to the newer Open US Law rows. Source

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