AR HB1127

Amends Arkansas Code § 19-8-304 to clarify that ten (10) or more local governments may create a joint investment trust for pooling moneys not currently needed.

Requires trusts to be created by written trust agreement.

Allows additional local governments to become parties to an existing trust agreement through appropriate action by their governing body, local depository board, school district board of directors, or other authorized party responsible for bank deposit and investment decisions.

Changes references from "which" to "that" for grammatical consistency in describing local governments becoming parties to the trust.