AR SB501

Amends Arkansas Code § 28-65-311(c) to expand permitted investments for guardians of estates to include bonds issued by Arkansas school districts, federal farm credit obligations, national mortgage association bonds, and bank deposits/credit union accounts insured by federal agencies.

Adds school district bonds, farm credit obligations, national mortgage association bonds, and insured bank/credit union accounts to the list of investments guardians may make without prior court authorization under § 28-65-311(c).

Mirrors the same investment expansions in Arkansas Code § 28-66-113(a)(2) governing guardians operating under the Uniform Veterans' Guardianship Act.

Maintains existing restrictions that investments in certificates of deposit and insured deposit accounts cannot exceed the amount insured, and that securities in default for more than 120 days during the preceding 5 years cannot be approved.

Clarifies that credit union investments do not expand a credit union's field of membership eligibility.