RULE 210.00.19-008 - Collective Investment Funds

RULE 210.00.19-008. Collective Investment Funds

ARKANSAS STATE BANKING BOARD

Position Number

Classification of Position

Entitled to Nominate

Incumbent

Term Expires

1

Bank Dept.

Member

Bank Commissioner

Todd

Smith

12-31-2019

2

Arkansas

Bankers

Association

Member

Bankers Association

Randy Scott

12-31-2020

3

Arkansas Bankers Association Member

Bankers

Association

Scott Miller

12-31-2023

4

Public Member

Governor

Ronald Mobley

12-31-2018

5

Public

Member

Governor

David Leech

12-31-2021

6

Public Member

Governor

Lana Hampton

12-31-2018

(A) All trust and estates over which a court is exercising jurisdiction shall be closed or disposed of as soon as practical in accordance with the orders or instructions of such court;

(B) All other accounts which can be closed promptly shall be closed as soon as practicable and final accounting made therefore, and all remaining accounts shall be transferred by appropriate legal proceedings to substitute fiduciaries.

(1) Surrender or Revocation of Fiduciary Powers. Any state bank which has been granted the right to exercise fiduciary powers and which desires to surrender such right shall file with the Commissioner a certified copy of the resolution of its board of directors signifying such desire. Upon receipt of such resolution, the Commissioner shall make an investigation and if satisfied that the bank has been discharged from all fiduciary duties which it has undertaken, shall issue a certificate to such bank certifying that it is no longer authorized to exercise fiduciary powers.

September 25, 2019 COLLECTIVE INVESTMENT FUNDS

Collective Investment. (Common Trust Funds as in A.C.A. § 28-69-202)

(a) Any common trust fund or collective investment authorized by Arkansas Code Annotated § 28-69-202 shall be established and maintained in accordance with 12 C.F.R. 9.18 as of January 1,2019.

(Adopted by Arkansas Register Volume XLIII Number 4, Effective 10/6/2019)

The following state regulations pages link to this page.