(a) In the event of default in payment of the principal or interest of any investment obligation held by any state retirement system where the issuer of the obligation receives moneys from the state, the default shall be certified by the board of the respective system to the Treasurer of State.
(b) The Treasurer of State shall withhold all moneys due the issuer from the state until the default, together with regular interest thereon, is satisfied.
Structure Arkansas Code
Title 24 - Retirement And Pensions
Chapter 2 - Public Employee Retirement Plans Generally
Subchapter 6 - State Retirement Systems Investments
§ 24-2-601. Investment authority and limitations generally
§ 24-2-602. Investment authority and limitations — Permissible investments
§ 24-2-603. Investment authority and limitations — Default setoff
§ 24-2-604. Investment authority and limitations — Conflict of interest
§ 24-2-605. Investment authority and limitations — Fidelity bonds
§ 24-2-606. Investment authority and limitations — Custodianship of assets
§ 24-2-607. Investment authority and limitations — Trust account
§ 24-2-608. Investment authority and limitations — Arkansas-related investments
§ 24-2-609. Registration of securities in name of nominee — Powers and duties of nominee
§ 24-2-610. Prudent investor rule
§ 24-2-611. Standard of care — Portfolio strategy — Risk and return objectives
§ 24-2-613. Duties at inception of trusteeship
§ 24-2-616. Investment costs — Limitations on investment authority
§ 24-2-617. Reviewing compliance
§ 24-2-618. Delegation of investment and management functions