(a) All municipalities of this state receiving state aid in the form of either turnback of general revenues or highways revenues shall maintain all funds in depositories approved for such purposes by law.
(b) The municipalities shall maintain separate bank accounts for general funds and street funds.
(c) The accounts shall be maintained in the name of the municipality.
Structure Arkansas Code
Subtitle 3 - Municipal Government
Chapter 59 - Arkansas Municipal Accounting Law
§ 14-59-103. Exemption for other systems
§ 14-59-105. Prenumbered checks — Electronic funds transfers
§ 14-59-107. Fixed asset records
§ 14-59-108. Reconciliation of bank accounts
§ 14-59-109. Prenumbered receipts
§ 14-59-110. Cash receipts journals
§ 14-59-111. Cash disbursements journals
§ 14-59-114. Maintenance and destruction of accounting records
§ 14-59-115. Duties of municipal treasurer
§ 14-59-116. Annual publication of financial statement