(a) For purposes of this subchapter, 'city' means a city of the first class, a city of the second class, and an unincorporated town.(b) Subject to subsection (c) of this section, a board of trustees of a city nonuniformed employees' pension plan with assets in excess of one hundred thousand dollars ($100,000) shall have full power to: (1) Invest and reinvest the moneys of the plan; and(2) Hold, purchase, sell, assign, transfer, or dispose of any of the investments so made and the proceeds of the investments and moneys.(c) The investments and reinvestments shall only be made in accordance with the prudent investor rule set forth in §§ 24-2-610 - 24-2-619.Acts 1999, No. 50, § 1; 1999, No. 332, § 1. (a) For purposes of this subchapter, 'city' means a city of the first class, a city of the second class, and an unincorporated town.(b) Subject to subsection (c) of this section, a board of trustees of a city nonuniformed employees' pension plan with assets in excess of one hundred thousand dollars ($100,000) shall have full power to: (1) Invest and reinvest the moneys of the plan; and(2) Hold, purchase, sell, assign, transfer, or dispose of any of the investments so made and the proceeds of the investments and moneys.(c) The investments and reinvestments shall only be made in accordance with the prudent investor rule set forth in §§ 24-2-610 - 24-2-619.Acts 1999, No. 50, § 1; 1999, No. 332, § 1.
Arkansas Legal Code