Statutes > Arkansas Statutes > 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 > § 24-7-404 - Default where issuer receives money from State of Arkansas.

§ 24-7-404 - Default where issuer receives money from State of Arkansas.

24-7-404. Default where issuer receives money from State of Arkansas.

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 regular interest thereon, is satisfied.