In the event of default in payment of the principal or interest of any investment obligation held by the Arkansas Teacher Retirement System where the issuer of the obligation receives moneys from the State of Arkansas, the default shall be certified by the Board of Trustees of the Arkansas Teacher Retirement System to the Treasurer of State, who shall withhold all moneys due the issuer from the State of Arkansas until the default, together with interest thereon, is satisfied.
Structure Arkansas Code
Title 24 - Retirement And Pensions
Chapter 7 - Retirement of Employees of Schools and Educational Institutions
Subchapter 4 - Arkansas Teacher Retirement System — Funds and Management of Assets
§ 24-7-401. Fund contributions — Fund rates
§ 24-7-402. Assets as trust fund — Custodian
§ 24-7-403. Restrictions on use of assets
§ 24-7-404. Default where issuer receives money from State of Arkansas
§ 24-7-405. Retirement fund assets accounts generally
§ 24-7-406. Retirement fund assets accounts — Members' deposit account — Contributions
§ 24-7-407. Retirement fund assets accounts — Employer accumulation account
§ 24-7-408. Retirement fund assets accounts — Retirement reserve account
§ 24-7-409. Retirement fund assets accounts — Survivor benefit account
§ 24-7-410. Retirement fund assets accounts — Income-expense account