{"data":{"id":"us-ar/ark.-code-ann.-19-3-516","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 19-3-516","heading":"Discontinuance as bank depository","body":"(a) A bank depository that refuses to cash upon presentation by the payee within thirty (30) days of issuance a state warrant of five hundred dollars ($500) or less drawn upon the State Treasury or a bank check of five hundred dollars ($500) or less issued by a state agency shall: (1) Be discontinued immediately as a bank depository; and (2) For a period of time determined by the State Board of Finance, be ineligible for reinstatement as a bank depository. (b) This section does not prevent a bank depository from: (1) Taking a reasonable time to make proper identification of the persons and signatures of payees named in warrants or checks; or (2) Seeking indemnification for losses from cashing warrants or checks for persons other than the payees named in the warrants or checks. Amended by Act 2013, No. 1088,§ 2, eff. 8/16/2013. Acts 1997, No. 847, § 1.\n\n(a) A bank depository that refuses to cash upon presentation by the payee within thirty (30) days of issuance a state warrant of five hundred dollars ($500) or less drawn upon the State Treasury or a bank check of five hundred dollars ($500) or less issued by a state agency shall: (1) Be discontinued immediately as a bank depository; and (2) For a period of time determined by the State Board of Finance, be ineligible for reinstatement as a bank depository.\n\n(1) Be discontinued immediately as a bank depository; and\n\n(2) For a period of time determined by the State Board of Finance, be ineligible for reinstatement as a bank depository.\n\n(b) This section does not prevent a bank depository from: (1) Taking a reasonable time to make proper identification of the persons and signatures of payees named in warrants or checks; or (2) Seeking indemnification for losses from cashing warrants or checks for persons other than the payees named in the warrants or checks.\n\n(1) Taking a reasonable time to make proper identification of the persons and signatures of payees named in warrants or checks; or\n\n(2) Seeking indemnification for losses from cashing warrants or checks for persons other than the payees named in the warrants or checks.","path":["AR Code","Title 19","Chapter 3","Subchapter 5"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_ar_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:41Z","sha256":"3a9a770ba7ff669bceb4a117503401c1409c62d5c2118ccd1439d413fbf92654","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-19-3-515","next":"us-ar/ark.-code-ann.-19-3-517"},"notice":"GroundRules: Original legal text. Not legal advice."}