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AR SB195
Bill
Status
Passed
3/4/2013
Primary Sponsor
Robert Thompson
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AI Summary
- Amends Arkansas Code § 9-26-207(c) to clarify conditions for transferring property to minors without requiring a guardianship
- Allows Arkansas Teacher Retirement System survivor benefits to be paid directly to a minor's parent, legal guardian, or legal custodian without a guardianship when the benefit does not exceed $20,000 per year
- Raises the property transfer threshold from $10,000 to $20,000 annually for teacher retirement survivor benefits paid to minors
- Exempts the Arkansas Teacher Retirement System from liability for any misuse of funds paid on behalf of a minor beneficiary to the minor's parent, legal guardian, or legal custodian
Legislative Description
To Clarify The Conditions Under Which The Arkansas Teacher Retirement System Can Pay A Survivor Benefit To A Minor Without A Guardianship Required.
Last Action
Notification that SB195 is now Act 174
3/4/2013
Committee Referrals
Public Retirement & Social Security Programs1/29/2013
Full Bill Text
No bill text available