An act TO AMEND THE ARKANSAS FINANCIAL EDUCATION 10 COMMISSION, the official text

Stricken language would be deleted from and underlined language would be added to present law.

1 State of Arkansas             As Engrossed: S3/18/25
2 95th General Assembly
                                      A Bill

3 Regular Session, 2025                                              SENATE BILL 373

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5 By: Senator Irvin

6 By: Representative Cavenaugh

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8                               For An Act To Be Entitled

9             AN ACT TO AMEND THE ARKANSAS FINANCIAL EDUCATION

10            COMMISSION; AND FOR OTHER PURPOSES.

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13                                    Subtitle

14                       TO AMEND THE ARKANSAS FINANCIAL

15                       EDUCATION COMMISSION.

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17 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS:

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19  SECTION 1. Arkansas Code � 6-1-703(b)(2), concerning members of the

20 board of directors of the Arkansas Financial Education Commission, is amended

21 to read as follows:

22            (2)(A) The board shall consist of nine (9) members.

23                       (B) Members of the board shall consist of:

24                              (i) The Treasurer of State or his or her designee,

25 who shall serve as chair;

26                              (ii) The Commissioner of Elementary and Secondary

27 Education or his or her designee;

28                              (iii) The Securities Commissioner or his or her

29 designee;

30                              (iv) The Bank Commissioner or his or her designee;

31                              (v)(iv) One (1) member who is designated by the

32 Arkansas Bankers Association;

33                              (vi)(v) One (1) member who is a member of a

34 federally chartered credit union doing business in this state, appointed by

35 the Treasurer of State; and

36                                                                                                  BBB

    *ANS322*                                               03-18-2025 14:59:46 ANS322
    As Engrossed: S3/18/25                                                 SB373

1                           (vii)(vi) Three (3) members who have various

2 financial backgrounds, one (1) member of the three (3) to be a female, one

3 (1) member of the three (3) to be a racial minority, appointed by the

4 Treasurer of State; and

5                           (vii) One (1) member who is designated by the

6 Secretary of State.

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8   SECTION 2. Arkansas Code � 6-1-703(c)(4)(A), concerning the meetings

9 of the board of directors of the Arkansas Financial Education Commission, is

10 amended to read as follows:

11  (4)(A) The board shall meet at least two (2) times a year, one

12 (1) meeting to be held in the spring and one (1) meeting to be held in the

13 fall, at the call of the chair.

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15                                  /s/Irvin

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