| 1 | 1 | | Stricken language would be deleted from and underlined language would be added to present law. |
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| 2 | 2 | | *ANS322* 03/04/2025 12:50:06 PM ANS322 |
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| 3 | 3 | | State of Arkansas 1 |
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| 4 | 4 | | 95th General Assembly A Bill 2 |
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| 5 | 5 | | Regular Session, 2025 SENATE BILL 373 3 |
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| 6 | 6 | | 4 |
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| 7 | 7 | | By: Senator Irvin 5 |
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| 8 | 8 | | By: Representative Cavenaugh 6 |
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| 9 | 9 | | 7 |
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| 10 | 10 | | For An Act To Be Entitled 8 |
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| 11 | 11 | | AN ACT TO AMEND THE ARKANSAS FINANCIAL EDUCATION 9 |
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| 12 | 12 | | COMMISSION; AND FOR OTHER PURPOSES. 10 |
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| 13 | 13 | | 11 |
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| 14 | 14 | | 12 |
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| 15 | 15 | | Subtitle 13 |
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| 16 | 16 | | TO AMEND THE ARKANSAS FINANCIAL 14 |
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| 17 | 17 | | EDUCATION COMMISSION. 15 |
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| 18 | 18 | | 16 |
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| 19 | 19 | | BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: 17 |
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| 20 | 20 | | 18 |
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| 21 | 21 | | SECTION 1. Arkansas Code § 6 -1-703(b)(2), concerning members of the 19 |
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| 22 | 22 | | board of directors of the Arkansas Financial Education Commission, is amended 20 |
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| 23 | 23 | | to read as follows: 21 |
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| 24 | 24 | | (2)(A) The board shall consist of nine (9) eight (8) members. 22 |
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| 25 | 25 | | (B) Members of the board shall consist of: 23 |
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| 26 | 26 | | (i) The Treasurer of State or his or her designee, 24 |
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| 27 | 27 | | who shall serve as chair; 25 |
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| 28 | 28 | | (ii) The Commissioner of Elementary and Secondary 26 |
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| 29 | 29 | | Education or his or her designee; 27 |
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| 30 | 30 | | (iii) The Securities Commissioner or his or her 28 |
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| 31 | 31 | | designee; 29 |
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| 32 | 32 | | (iv) The Bank Commissioner or his or her designee; 30 |
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| 33 | 33 | | (v)(iv) One (1) member who is designated by the 31 |
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| 34 | 34 | | Arkansas Bankers Association; 32 |
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| 35 | 35 | | (vi)(v) One (1) member who is a member of a 33 |
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| 36 | 36 | | federally chartered credit union doing business in this state, appointed by 34 |
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| 37 | 37 | | the Treasurer of State; and 35 |
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| 38 | 38 | | (vii)(vi) Three (3) members who have various 36 SB373 |
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| 39 | 39 | | |
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| 40 | 40 | | 2 03/04/2025 12:50:06 PM ANS322 |
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| 41 | 41 | | financial backgrounds, one (1) member of the three (3) to be a female, one 1 |
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| 42 | 42 | | (1) member of the three (3) to be a racial minority, appointed by the 2 |
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| 43 | 43 | | Treasurer of State. 3 |
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| 44 | 44 | | 4 |
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| 45 | 45 | | SECTION 2. Arkansas Code § 6 -1-703(c)(4)(A), concerning the meetings 5 |
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| 46 | 46 | | of the board of directors of the Arkansas Financial Education Commission, is 6 |
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| 47 | 47 | | amended to read as follows: 7 |
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| 48 | 48 | | (4)(A) The board shall meet at least two (2) times a year , one 8 |
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| 49 | 49 | | (1) meeting to be held in the spring and one (1) meeting to be held in the 9 |
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| 50 | 50 | | fall, at the call of the chair. 10 |
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