GroundRules
Ark. Code Ann. § 25-10-121: Proceeds from the sale of land - Deposit in special trust fund
Where this section sits in the code
- AR Code
- Title 25
- Chapter 10
- Subchapter 1
(a) Pursuant to the process delineated in § 22-6-601 , in lieu of depositing the proceeds of the sale of lands in the fund from which the division or state agency is operated, a board of a state agency or a division within the Department of Human Services holding lands in its name may request, as a condition for sale of the lands, that the proceeds be deposited in a special trust fund to be created in the name of the board, state agency, or division on the books of the Treasurer of State, Auditor of State, and Chief Fiscal Officer of the State.
(b) Proceeds placed in the special trust fund shall be used solely for the maintenance and operation of the programs of the division, state agency, or board under whose name the lands were held.
(c) If the division, state agency, or board requests the proceeds to be deposited in a special trust fund, the creation of the trust fund and the transfer of the proceeds to the trust fund shall be subject to approval by the Governor as a condition for approval of the sale.
Collected 2026-09-17T21:35:43Z. Source file · JSON
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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