19 CAR § 10-102 – Management and investment of cash funds

(a) A depository collateral agreement must be executed before any deposits can be made.
(b) Prior to depositing any funds with a bank or financial institution operating within the borders of the State of Arkansas, the agency should review the financial condition of the bank or financial institution.
(c) The agency should periodically review the financial condition of the bank or financial institution so long as the agency has funds on deposit with the bank or financial institution.
(d) Certain quarterly financial reports are open for public inspection.
(e) The website of the Federal Deposit Insurance Corporation provides additional public information that can be used to review the financial condition of the bank or financial institution.
(f) An agency should not deposit funds with a bank or financial institution if it would cause cash funds on deposit to exceed the capital of the bank or financial institution.