State Codes and Statutes
Statutes > Arkansas > Title-24 > Chapter-12 > Subchapter-2 > 24-12-20224-12-202. Authority to employ investment advisor -- Investment policy.
(a) A board of trustees of a city nonuniformed employees' pension plan with assets in excess of one hundred thousand dollars ($100,000) may employ an investment advisor as its agent to make investment recommendations and to invest the assets pursuant to a written board investment policy, provided that the governing body of the city declares such services professional services under 19-11-806 [repealed], and subject to the terms, conditions, limitations, and restrictions imposed by law upon investments of state retirement systems as set forth in 24-2-610 -- 24-2-619.
(b) The investment policy shall not limit the investments to interest-bearing bonds.
